KYIV, Aug 25 – China's CNBM, which owns a number of solar power plants in Ukraine, intends to abandon the $500 million lawsuit in international arbitration and not file new ones due to the reduction of the feed-in tariff, Head of the Verkhovna Rada Committee on Energy and Housing Andriy Gerus has said.

"CNBM has promised not only not to file new arbitrations against Ukraine, but also to withdraw the previous one for $500 million… We have already received official notification from them that they are revoking the arbitration," Gerus said in an interview with Oilpoint on Tuesday.