Business news from Ukraine

Business news from Ukraine

Mayak plant in Vinnytsia has installed 236 kW solar power plant

A large Ukrainian manufacturer of heating devices and equipment for heating systems (TM Termia), JSC Vinnytsia Mayak Plant, has installed its own solar power plant (SPP), according to Andriy Ocheretny, deputy head of the Vinnytsia City Council.

“The SPP was launched on September 19, 2025. A total of 384 solar panels were installed. The peak capacity is 236.16 kW,” he wrote on Facebook on Thursday.

As specified by City Council Deputy Vyacheslav Terlikovsky, the enterprise took advantage of the Vinnytsia City Council’s program to compensate for the cost of equipment from renewable energy sources.

According to him, the installation of the SES was carried out by Promavtomatika Vinnytsia LLC, which will also provide further maintenance.

The Mayak plant, under the Termia trademark, manufactures, among other things, air heating units (heat guns, fan heaters, air curtains), electric convectors, electric boilers, and heating radiators.

According to the company’s annual report on its website, in 2024, its consolidated net profit decreased by 2.4 times compared to 2023, to UAH 7.6 million, and net income decreased by 10%, to UAH 251.6 million.

Ocheretny also reported that an application for compensation from the Vinnytsia City Council for the purchase of equipment for the production of electricity from renewable sources was submitted by PP “Konex,” which specializes in the trade of pharmaceutical products.

“PP Konex now also has its own solar power plant with a total capacity of 60 kW. In total, 108 panels (560 W each) and 20 storage batteries (5.12 kW each) are installed on the roof of the enterprise,” he wrote.

According to its website, the Konex pharmacy chain has more than 200 pharmacies in the Vinnytsia, Khmelnytskyi, Chernivtsi, Cherkasy, Kirovohrad, Zhytomyr, Ivano-Frankivsk, Kyiv, Rivne, Ternopil, and Odesa regions.

According to its report, Konex earned UAH 51.8 million in net profit and UAH 3.5 billion in revenue in 2024.

 

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Construction of largest solar power plant has begun in Azerbaijan

Masdar (UAE) has begun construction of Azerbaijan’s largest solar power plant with a capacity of 445 MW.

“As part of the project implemented by Masdar, the installation of the first solar panel support for the Bilasuvar solar power plant and construction work in general began on August 12,” according to a statement on the official social media page of the Bilasuvar district administration (in the south of the country). An area of 1,454 hectares has been allocated for the construction of the plant.

“The Bilasuvar solar power plant will make an important contribution to increasing renewable energy production in the country, increasing the share of clean energy in the energy balance, and developing a green energy policy,” the statement said.

As reported, the groundbreaking ceremony for the 445 MW Bilasuvar and 315 MW Neftchala solar power plants took place during Baku Energy Week in June 2024. Both plants are scheduled to be commissioned in 2027.

Once completed, the two solar power plants are expected to generate around 1.7 billion kWh of electricity per year. Their launch will also reduce carbon dioxide emissions by approximately 830 million tons per year and lead to annual savings of 380 million cubic meters of natural gas. The total cost of the solar power plants is estimated at $670 million. These projects are being implemented by Masdar in cooperation with SOCAR Green (a subsidiary of the State Oil Company of Azerbaijan, SOCAR). SOCAR Green’s share in each of the projects is 25%. The Bilasuvar plant will generate 897 million kWh of electricity per year, supplying power to 179,000 consumers (homes) and saving 193 million cubic meters of gas annually.

 

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Spanish Ambassador to Ukraine opens solar power plant in Chornobyl zone

Ukraine’s Minister of Environmental Protection and Natural Resources Svitlana Hrynchuk, Spanish Ambassador to Ukraine Ricardo Lopez-Aranda Jagu and Secretary of the National Security and Defense Council of Ukraine Oleksandr Lytvynenko took part in the opening of a photovoltaic power plant in the Chornobyl exclusion zone, the Public Communications and Public Relations Department of the Ministry of Environment reported on Saturday.

“The implementation of the project worth more than UAH 30 million started in 2019 and was stopped with the beginning of the full-scale invasion. But in the fall of 2024, this process reached the finish line. Today, the solar plant is fully ready for commissioning and is connected to the integrated power system of Ukraine. It consists of 2244 monocrystalline solar modules on an area of 13 thousand square meters,” said Hrynchuk.

According to her, the plant is a success that continues the ambitious plan to develop renewable energy in the exclusion zone.

“Special thanks to the Government of Spain for its support in the implementation of this project. Spain has a plan to switch to 70% green energy in the economy by 2030 and supports us on the path to energy efficiency. This country is a key financial partner in the creation of a new solar station. The construction was funded by the Government of Spain for greenhouse gas emission quotas under the Kyoto Protocol. This is an extremely important and very timely investment in our green energy sector,” the Minister said.

Hrynchuk also got acquainted with the results of the implementation of another area of our cooperation with partners – an automated system for monitoring the non-proliferation of radioactive contamination. It was implemented with the support of the European Union to modernize stationary radiometers for monitoring road transport and cargo at the control points that were destroyed during the occupation of the Chornobyl Exclusion Zone.

The Minister inspected the consequences of the Russian attack on the NSC Arch, where work is underway to assess damage, find effective solutions and plan to restore the functionality of the confidentiality.

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Sukha Balka is building solar power plant for Frunze mine

Sukha Balka Mine (Kryvyi Rih, Dnipro region), part of Aleksandr Yaroslavsky’s DCH Group, has launched a project to build a solar power plant at Frunze Mine.

As reported in DCH Steel’s corporate newspaper on Thursday, due to a constant shortage of generating capacity and restrictions on electricity consumption, the mine’s management decided to build its own power generation facilities.

“In June of this year, we plan to commission a power plant that will use an alternative source and provide electricity to Frunze mine. The power plant will have a capacity of 2 MW. While the design of the plant and the purchase of equipment are underway, construction has already begun at the mine,” said Igor Piltek, Deputy General Director and Chief Engineer of the mine.

According to him, a site for the installation of solar panels measuring about two hectares has already been prepared, and the surface has been planned. To build the power plant, it is necessary to install 2,740 solar panels.

The solar power plant will operate autonomously. According to forecasts, the equipment should pay for itself in four years.
Earlier, the Chief Engineer reported that energy-efficient projects are being implemented at the mine, in particular, the construction of a 2 MW solar power plant has begun, which is scheduled to be commissioned in the second quarter of 2025.

Sukha Balka mine is one of the leading mining companies in Ukraine. It produces iron ore by underground mining. The mine includes Yubileynaya and Frunze mines.
DCH Group acquired the mine from Evraz Group in May 2017.

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“Nova Poshta” has launched 1 MW solar power plant

Nova Poshta, the leader in express delivery in Ukraine, has launched a 1 MW solar power plant (SPP).

“A megawatt power plant has been launched on the roof of Nova Poshta’s Kyiv Innovation Terminal. The field of solar panels stretches over an area of 5 thousand square meters,” the company’s co-owner Volodymyr Popereshniuk wrote on Facebook on Monday.

The total investment in the project amounted to UAH 14 million.

The expected payback period is three years.

Popereshniuk announced plans to install industrial uninterruptible power supply systems and energy storage equipment to improve the efficiency of energy facilities.

“The key to the growth of investments in our energy independence, in particular, was the abolition of VAT on imports of energy equipment. We were able to launch our energy program, develop renewable energy sources and reduce consumption from the general power grid,” said the co-owner of Nova Poshta.

As reported, in April 2023, in response to Russian strikes on the power grid, Nova Poshta established Nova Energy to develop regular electricity generation and ensure the autonomy of the company’s facilities. Since August, the company has been selling small wholesale diesel fuel on the open market.

Mr. Popereshniuk announced plans to install industrial uninterruptible power supply systems and energy storage equipment to improve the efficiency of energy facilities.

“The key to the growth of investments in our energy independence, in particular, was the abolition of VAT on imports of energy equipment. We were able to launch our energy program, develop renewable energy sources and reduce consumption from the general power grid,” said the co-owner of Nova Poshta.

As reported, in April 2023, in response to Russian strikes on the power grid, Nova Poshta established Nova Energy to develop regular electricity generation and ensure the autonomy of the company’s facilities. Since August, the company has been selling small wholesale diesel fuel on the open market.

Popereshnyuk said that after the war ends and the situation with energy supply improves, Nova Energy will be sold as a non-core business.

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Raiffeisen installs first solar power plant in branch

Raiffeisen Bank (Kyiv) has installed the first solar power plant in a branch located in Obolon district of the capital as part of the implementation of autonomous power sources, the financial institution said on Thursday.
“The 15 kW power plant will ensure uninterrupted provision of financial services even during prolonged power outages. The transition to solar generation also helps to significantly reduce the cost of fuel, generator maintenance and capital repairs,” it said.
It is noted that solar power plants will be used as the main source of electricity and, according to experts, will pay off in 7 years.
Recently, the Ministry of Finance announced the installation of 118 solar roof panels with an area of 310 square meters with a total capacity of 60 kW at its capital office.
“Also, 2 heating stations were modernized, more than 2 km of pipelines were insulated, 558 public lighting fixtures and 42 outdoor lighting fixtures were replaced with more economical ones, more than 200 windows were modernized to reduce heat infiltration and a building energy monitoring system was introduced,” the Ministry of Finance said.
These changes are expected to reduce electricity consumption by 20% and save more than UAH 1.3 million per year.
The Ministry of Finance clarified that these measures were implemented with the support of the German Society for International Cooperation (GIZ) under the project “Promotion of Energy Efficiency and Implementation of the EU Energy Efficiency Directive in Ukraine”.
Minister of Finance Sergii Marchenko added that the work on the energy efficiency of the administrative building is only the first of a number of activities in the framework of cooperation with partners. In particular, the Ministry of Finance plans to modernize the air conditioning and supply and exhaust ventilation systems, as well as to install an energy-efficient glass roof over the building’s atrium.
“After the implementation of all project steps, the building of the Ministry of Finance will become the first government building in Ukraine with a Class A energy efficiency certificate,” the Ministry emphasized in its release.

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