Draft Changes To PPA For Renewables

Please be informed that on 25 July 2017 National Commission on State Regulation of Energy and Utilities in Ukraine (the "Regulator") has adopted the draft changes to the template (prymirnyy) PPA between producers of electricity from renewables and State Enterprise "Energorynok" (the "Energorynok") (the "Draft Changes") for the purpose of placing at the Regulator's website in order to receive comments and suggestions (information about the Regulator's decision is available in Ukrainian here. The text of the Draft Changes is available here)

In accordance with the Draft Changes:

• A PPA on the basis of the template PPA shall be signed by Energorynok with a validity period of up to 1 January 2030 and Energorynok will not be able to deviate from this provision unilaterally. This change to a long term PPA is long awaited by market players and reflects the approach in the recently entered into force Law of Ukraine on Electricity Market.