The government is trying to solve the problem of the shortage of generating capacity in Ukraine by encouraging businesses and people to create their own generation.
As we already wrote, some entrepreneurs have already started doing this, but not everyone can afford to buy their own generating units.
In recent days, the authorities have made a number of statements promising to help in this matter.
Yesterday, Prime Minister Denys Shmyhal said that the Cabinet of Ministers is preparing a program of preferential lending for the purchase of energy equipment for both citizens and businesses. He said that yesterday the government approved the procedure for providing financial support to individuals who will install generating units from alternative energy sources in their own households. Apparently, this refers to solar panels, wind and thermal installations.
Shmyhal reported that the amount of compensation for installations with a capacity of up to 10 kW per household will be UAH 244,000. The maximum loan amount is UAH 480,000 for a period of 5 years.
The prime minister did not specify when exactly the new credit programs will come into effect and what the terms of lending to businesses will be.
The banking community expects that energy credit programs (for both individuals and businesses) will be launched through the Entrepreneurship Development Fund, which is currently running the "5-7-9%" state lending project.
Financiers said that the day before, NBU Chairman Andriy Pyshny held a special meeting on energy, at which he called on banks to be more active in lending to energy projects, primarily generation.
According to bankers, the NBU chairman stated that the government considers the population to be its priority - they will first and foremost try to provide it with electricity. Business will follow the residual principle.
Officials believe that companies are obliged to think for themselves how to provide themselves with electricity, and not rely on the government, and bankers should help them with money by opening credit programs.
“Pyshny tried to put maximum pressure on the banks and stated that “energy should become the main priority in lending”. Large projects for large amounts should be financed by groups (of banks), within the framework of consortium lending. At the same time, local authorities and ATGs (united territorial communities) should be urgently involved. To stimulate energy lending, the NBU promised to simplify collateral requirements (they will allow less collateral to be provided) as an exception. As for the price, the following calculation is made: with an average price of hryvnia resources of 6% (deposits + funds on cards/current accounts), banks are expected to provide loans at an average of 13-14% per annum, and part of this rate can be covered by the central government or local authorities. The National Bank expects that banks will launch and implement new energy loans within 6 months,” said a source for “Strana” in one of the banks.
It also clarified that on other issues (not energy), Andriy Pyshny spoke about returning the owners' right to withdraw dividends from bank profits, which has been prohibited since the beginning of the full-scale invasion. What exactly will be decided is still unclear. They promise to respond closer to the end of the summer, after the NBU recalculates the banks' capitals according to the new requirements. In essence, Pyshny made it clear that he would allow the withdrawal of dividends if he understood that the banks would be able to painlessly fulfill the capitalization requirements. But if they themselves do not have enough funds, they will not allow the repatriation of dividends.
