Ukrenergo NEC

2024: Green bond default

In November 2924, NNK Ukrenergo suspended servicing of dollar bonds due in 2028 until an agreement was reached with the holders of the bonds on restructuring.

Ukrenergo will not pay a coupon on green bonds worth $825 million on November 9.

2023: Stop power exports to Slovakia

Due to problems with auctions with European operators by the energy company Ukrenergo, Ukraine in April 2022 suspended the export of electricity to Slovakia and will not be able to send it to Hungary.

The company said that the problem arose due to the lack of the necessary regulatory framework, which was denied by the Ukrainian authorities.

Experts believe that Ukrenergo does not want to share revenues with European operators in accordance with EU regulations.

2021: Scandal over distribution of money from sale of 'green bonds'

In 2021, Ukrenergo raised $825 million in targeted Eurobonds to settle with green investors. About $75 million of them were given by the European Bank for Reconstruction and Development.

In November 2021, it became known that the European Bank for Reconstruction and Development (EBRD) is studying the closure of work in Ukraine due to the fraud of the Cabinet of Ministers of Ukraine with the distribution of money that was raised through green Eurobonds to settle debts to investors.

A scandal erupted in the country around the dismissal by the Cabinet of Ministers of the head of the state-owned enterprise "Guaranteed Buyer" Petrikovets. The company said that the former head was fired for refusing to comply with the government's order to stop paying debts to green electricity producers.

In turn, the government wrote off the dismissal of Petrikovets on his unprofessionalism, which led to losses of the enterprise.