DTEK RENEWABLES (the “Company”) announces that, following the issuance by PJSC “National Power Company “Ukrenergo” (“Ukrenergo”) of US$825 million sustainability-linked green bonds due 2026 on 9 November 2021 (the “Notes”) for the stated purpose of enabling it to repay indebtedness owed to the Guaranteed Buyer, in order that the Guaranteed Buyer could, in turn, satisfy its payment obligations owed to Ukrainian renewable energy producers (the “Renewable Producers”) for electricity purchased, the Company has not yet received any such payment(s) from the Guaranteed Buyer, whereas all other Renewable Producers have already received payment according to the public information. The Company has not received any explanation from the Guaranteed Buyer, the Ministry of Energy or any other party for this discriminative approach to the Company.
Although the Company continues to receive current monthly settlement payments from the Guaranteed Buyer on a pro rata basis with other Renewable Producers, the Guaranteed Buyer still owes approximately UAH 4.3 billion to the Company in respect of electricity purchased during prior periods in 2020 and 2021. As at 1 November 2021, the Guaranteed Buyer owed approximately UAH 27.6 billion to the Renewable Producers, including the Company, in respect of electricity purchased during 2020 and 2021.
The Company will take all legal measures available to it to investigate the situation, protect its rights and demand prompt payment from the Guaranteed Buyer.
For the avoidance of doubt, the Company services its bank and bond indebtedness in accordance with its contractual obligations.
For any enquiries, please contact:
DTEK RENEWABLES: Corporate Finance Department (Email: corpfin@dtek.com)
