Oschadbank and Ukrgasbank to Credit Guaranteed Buyer with UAH 3.4 billion under State Guarantees

The state-owned banks Oschadbank and Ukrgasbank expressed willingness to credit Guaranteed Buyer SE with UAH 3.4 billion under the guarantees of the Cabinet of Ministers of Ukraine to the borrower could improve its financial standing and payouts to generators.

It was announced by the Deputy Director of the Guaranteed Buyer Nataliya Kanarska during the meeting at the Ministry of Energy and Environmental Protection on May 8, 2020.

“For our part we contacted the banks namely Oschadbank, Ukrgasbank, EBRD, World Bank, European Investment Bank, and KfW. Currently, we are waiting for the answers. We even conducted the meeting with the representatives of Oschadbank and Ukrgasbank. They are ready to credit us under the sovereign guarantees, Oshadbank and Ukrgasbank are ready to lend about UAH 2 billion and 1.4 billion, respectively”, she said.

Kanarska also noted that the current price in the day-ahead electricity market does not allow to make a profit, which could be allocated for the payouts to renewable energy generators.

According to Kanarska, it is necessary that the price caps in the day-ahead market remain terminated after the lockdown as well as allow the state enterprise to sell electricity under bilateral contracts.

13:00 / 8 May, 2020

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