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International Internet Magazine. Baltic States news & analytics Saturday, 04.12.2021, 07:34

Ukraine's solar energy market disappoints Lithuanian investors

BC, Vilnius, 12.11.2020.Print version
Lithuanian companies are halting investments in renewable energy in Ukraine as they got disappointed in the market that lured them with the promise of good earnings, but instead ran up huge debts for electricity and lowered the purchase tariff, the business daily Verslo Zinios reported on Thursday, cites LETA/BNS.

Over 50 investors in renewable energy have filed lawsuits against Ukraine's state-owned Guaranteed Buyer (GarPok). Debts for purchased electricity amounted to 265 million euros as of October 16. 

Ruslan Sklepovic, the CEO of Green Genius, a Vilnius-based company that has invested around 40 million euros in Ukraine, said they would not invest in the country anymore.

Vidmantas Janulevicius' BOD Group has also carried out a development project in Ukraine because of attractive tariffs.

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