In Ukraine, loans for solar and wind power plants will become more accessible: instead of monthly interest compensation, the population is offered a one-time reimbursement of 30% of the principal amount. This was reported on Wednesday, November 5, by the Ministry of Energy of Ukraine, according to UNN.
Details
At the suggestion of the Ministry of Energy, the Cabinet of Ministers of Ukraine improved the mechanism for individuals to receive state support for installing generating units that produce electricity from alternative energy sources in their households.
The relevant changes were made to Resolution No. 673 of the Cabinet of Ministers of Ukraine dated June 7, 2024.
The preferential lending program for the purchase and installation of hybrid power supply systems, launched by the Government last year, has gained significant popularity. Since its implementation, 3,035 loan agreements have been concluded with individuals for a total amount of over UAH 1 billion and a total equipment capacity of over 26 MW. For the further functioning of this program, the Ministry of Energy has actively worked to attract funds, including from international partners and financial institutions.
It is noted that the new mechanism approved by the Government provides for the provision of 30 percent compensation for the principal amount of the loan as financial state support, instead of monthly compensation for the interest rate on such an obligation.
The proposed mechanism is more beneficial: borrowers will immediately receive a reduction in the cost of the loan for the purchase and installation of equipment; the state and potential donors who are ready to provide financing will be able to calculate the necessary amounts of funds that will need to be attracted to provide financial state support.
The Ministry of Energy expects that the new decision will contribute to expanding the circle of people who can purchase and install hybrid power systems, improve cooperation with international financial organizations and donors to attract funds, and strengthen the country's energy security amid the destruction of power plants and energy infrastructure due to Russia's aggression against Ukraine.
Recall
In Ukraine, the installation of solar power plants (SPPs) continues as part of preparing medical facilities for winter and strengthening their energy autonomy. Thanks to such solutions, hospitals can operate stably even in the event of prolonged power outages.