Nebras Power is announcing its entry into the Ukrainian electricity market with the acquisition of six solar projects and a partnership agreement with UDP Renewables, Nebras Power reported on Twitter.
According to a report on the website of the president of Ukraine, UDP Renewables investment and development company and the Qatari state-owned company Nebras Power have signed an agreement to invest in “green” generation facilities, the construction of which is scheduled for 2021-2022.
According to the agreements reached, Nebras Power becomes the owner of a controlling stake in a number of solar power plant operators.
The signing of the agreement will contribute to deepening cooperation between Ukraine and the State of Qatar in the field of foreign investment and the development of renewable energy sources, an innovative economy and environmental protection, the President’s Office noted.
As reported, at the end of January, the Antimonopoly Committee of Ukraine (AMCU) authorized Nebras Power Investment Management B.V. (the Netherlands), a member of the Qatar group Nebras, to receive 50% or more in six companies operating solar and wind power plants of businessman Vasyl Khmelnytsky and his partners.
According to the committee, the matter concerns 50% in Volyn West Wind-1 LLC and Volyn West Wind-2 LLC, as well as more than 50% in Free Energy Henichesk LLC, Scythia-Solar-1 LLC, Scythia-Solar-2 LLC and Port Solar LLC.
Nebras Power is announcing its entry into the Ukrainian electricity market with the acquisition of six solar projects and a partnership agreement with UDP Renewables, Nebras Power reported on Twitter.
According to a report on the website of the president of Ukraine, UDP Renewables investment and development company and the Qatari state-owned company Nebras Power have signed an agreement to invest in “green” generation facilities, the construction of which is scheduled for 2021-2022.
According to the agreements reached, Nebras Power becomes the owner of a controlling stake in a number of solar power plant operators.
The signing of the agreement will contribute to deepening cooperation between Ukraine and the State of Qatar in the field of foreign investment and the development of renewable energy sources, an innovative economy and environmental protection, the President’s Office noted.
As reported, at the end of January, the Antimonopoly Committee of Ukraine (AMCU) authorized Nebras Power Investment Management B.V. (the Netherlands), a member of the Qatar group Nebras, to receive 50% or more in six companies operating solar and wind power plants of businessman Vasyl Khmelnytsky and his partners.
According to the committee, the matter concerns 50% in Volyn West Wind-1 LLC and Volyn West Wind-2 LLC, as well as more than 50% in Free Energy Henichesk LLC, Scythia-Solar-1 LLC, Scythia-Solar-2 LLC and Port Solar LLC.
UDP Renewables, whose strategic investor is the holding company UFuture, has joined the European Clean Hydrogen Alliance, which was established by the European Commission under the Green 402 GW New Hydrogen Production Capacity Initiative. This step was the beginning of the formation of a new direction of the company’s activities in the field of innovative projects for the installation of “green” hydrogen technology.
The company’s project portfolio currently includes solar and wind energy projects with a total capacity of 570 MW, which allows the implementation of the installation of hydrogen technology on an industrial scale.
The alliance’s priorities are to meet the demand for hydrogen as the main source of energy and to attract investment for decarbonization projects. The Alliance consists of national energy and transnational companies, research institutions, and the European Investment Bank. Leading European energy and industrial companies such as Electricité de France (EDF), E.ON SE, BMW Group, General Electric, AREVA H2Gen, Airbus SAS, Alstom, BASF SE, Bosch Group have joined the European Clean Hydrogen Alliance, and more than two dozen Ukrainian companies.
“Our company is closely monitoring the development of hydrogen technology, because it is the next level of innovation in energy and strategy to provide humanity with resources for life. UDP Renewables’ entry into the alliance is one of such steps, it is a look beyond the horizon and an opportunity to receive information about technologies from its developers and pioneers in the industry,” said Serhiy Yevtushenko, managing partner of UDP Renewables.
Today, the investment potential of the hydrogen market in European countries is estimated at 470 billion euros by 2050. In July 2020, the European Commission presented the “Hydrogen Strategy for Climate-Neutral Europe”. Ukraine received a quota for the installation of 10 GW of hydrogen capacity, which became the basis for the active development of a new energy sector.
UDP Renewables is implementing new approaches and energy innovations to reduce the carbon footprint and for a clean future for future generations.
ADDITIONAL INFORMATION
UDPRenewables is an investment and development company in the Ukrainian renewable energy sector. With diversification in the type of renewable power generation and geography, by 2022 UDP Renewables strives to become one of the largest producers of clean energy in Ukraine, with a total capacity of more than 300 MW.
UFuture is a holding company of Ukrainian entrepreneur Vasyl Khmelnytsky, which has a diversified portfolio of assets in the fields of real estate, infrastructure, industry, renewable energy, pharmaceuticals and IT. In particular, UFuture is a strategic investor in UDP Renewables. UFuture’s assets are valued at $500 million, and the total capitalization of the businesses in which it has invested is up to $1 billion.
Spanish-based Acciona Energia Global could acquire over 50% in the solar power plant projects Hudzivka-Solar 1 and Hudzivka-Solar 2 of UDP Renewables of Vasyl Khmelnytsky near Izmail in Odesa region.
According to the Antimonopoly Committee of Ukraine, it plans to consider the relevant statement of the Polish company Dymerka Solar Poland Sp. z o.o. controlled by Acciona.
According to UDP Renewables, the capacity of the Hudzivka solar plants being under construction in 2019 is 25.9 MW.
Managing Partner of UDP Renewables Serhiy Yevtushenko told the Interfax-Ukraine agency that UDP Renewables intends to remain in this project after Acciona joins it in order to develop it together. He added that the details of cooperation will be announced later after the successful completion of the transaction.
In early January of this year, the State Architectural and Construction Inspectorate reported that it had allowed Hudzivka-Solar 2 LLC to build two solar plants with a capacity of 10 MW each in Izmail.
ACCIONA ENERGIA, SOLAR PLANT, UDP RENEWABLES, VASYL KHMELNYTSKY
