Business news from Ukraine

FRANCE TO FINANCE JOINT PROJECT OF UKRENERGO AND RTE FOR BUILDING PILOT ENERGY STORAGE

The Ministry of Economy and Finance of France has allocated a grant of EUR 560,000 to Ukraine to finance a joint project of Ukrenergo and RTE International for the implementation of Ukraine’s first energy storage system, the press service of the Ukrainian company has reported. According to its data, in the next six months, RTE International plans to implement the first phase of the project: a feasibility study and technical assignments for further work. At the second stage, the possible cost will be determined, a model of the future storage system and a roadmap will be created with a list of all necessary measures for the implementation of the joint project.
Ukrenergo notes that the project is of a great importance for the future development of the Ukrainian energy sector and the integration of the domestic energy system into the energy system of continental Europe, since one of the requirements is to ensure the required amount of primary frequency control.
In addition, over the past few years, there has been an increase in wind and solar power generation in Ukraine, which will require the construction of additional highly maneuverable capacities that meet the environmental requirements of European countries.
“The start of cooperation with RTE, the leading player in the European market, the implementation of a complicated and innovative energy storage project is a significant step towards our European integration and the strengthening of Ukraine’s energy security,” Ukrenergo Head Vsevolod Kovalchuk said.

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JAPANESE COMPANIES INTERESTED IN BUILDING SOLAR PLANTS IN CHORNOBYL NPP AREA

Deloitte Touche Japan and Green Power Development Japan (both based in Japan) are interested in building solar power plants with the capacity of up to 1.2 GW in the Chornobyl exclusion zone. This information was made public at a meeting of Olha Buslavets, the Director General of the Energy Markets Directorate of the Ministry of Energy and Coal Industry, Masatoshi Nishimoto, the Director of Deloitte Touche Japan, the Executive Director of Green Power Development Japan, and representatives of the Japanese government in Kyiv on January 30.
According to the press service of the ministry, during the meeting the parties discussed the economic and technical aspects of construction of solar plants, as well as a draft law on the introduction of “green” auctions.
As reported, the construction of a pilot solar plant with a capacity of 1 MW of the Enerparc AG-Rodina Energy Group consortium was completed in early 2018. In the autumn of 2018, the consortium announced its intention to increase the station’s capacity to 100 MW.

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EBRD, BLACK SEA TRADE AND DEVELOPMENT BANK TO ISSUE EUR 36 MLN FOR BUILDING SOLAR PLANTS IN UKRAINE

The European Bank for Reconstruction and Development (EBRD) and the Black Sea Trade and Development Bank each will provide a EUR 18 million loan for the implementation by Rengy Solar B.V. of a project to build three solar power plants in Mykolaiv region, the EBRD press service has said.
The total installed capacity of the stations will be 47 MW.
Rengy Solar B.V. belongs to the Norwegian developer of the solar energy projects Scatec Solar and Rengy Development (Kyiv).
“Both companies have experience in implementing similar projects with the EBRD, but this new project is the first one for Scatec Solar in the market of alternative energy in Ukraine,” the press service notes.
This project is funded by the EBRD under the USELF-III program for financing alternative energy in Ukraine for a total of EUR 250 million.
As reported, earlier Scatec Solar signed an agreement with Rengy Development about joint implementation of projects on construction of solar plants with a total power of 47 MW in Mykolaiv region.

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SEVEN HILLS DEVELOPER PLANS TO START BUILDING SECOND RESIDENTIAL COMPLEX IN KYIV

Exko Plus LLC (Seven Hills developer, Kyiv) of businessman of Israeli origin Beny Steinmetz plans to start implementing a project to build a business class residential complex located at 39/2 Henri Barbusse Street in the Pechersky district of Kyiv. “We continue believing in business class – the segment where we work. We see and feel that it is stable. Demand remains. We will continue working in this residential housing segment,” Seven Hills CEO Arie Schwartz said at the RED PM DAY 2018 conference held last week in Kyiv.
He told Interfax-Ukraine that the company’s primary task is to complete the construction of the last stage of the Park Avenue residential complex, scheduled for the first quarter of 2019, and then focus on the new project.
As expected, the new complex will be designed for 670 high-end apartments. The construction of this residential complex was announced back in 2008. Then the developer several times postponed the start of its implementation.
According to Schwartz, the company’s portfolio contains five sites in Kyiv for development, one of them is Park Avenue residential complex (located at 58A, Holosiyivsky Avenue) and one in the pipeline – in the Pechersky district (located at 39/2, Henri Barbusse Street).
“We thought that it will take about five years to build Park Avenue. Today it is 11 years, and we continue working on our other projects,” Schwartz said.
As reported, Seven Hills in 2009 announced plans to start implementing three construction projects in Kyiv city and region, in particular, the Podol A class office center and a premium-class residential complex in Kyiv and the Airport City office and warehouse complex in Kyiv region.
Exko Plus LLC was established in 2004, its main activity is the construction of residential and nonresidential buildings.
According to the unified public register, participants of LLC are Global Space Management Limited (90%) and Respublika investment fund (10%). The ultimate beneficiary is Steinmetz.

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TURKISH COMPANY WINS ROAD BUILDING TENDER

Onur Construction International has won a tender held by the Automobile Road Service in Dnipropetrovsk region to build a section of H-31 Dnipro-Reshetylivka road from the settlement of Loboikivka to the border of Dnipropetrovsk region with a price offer of UAH 427.9 million. According to the ProZorro e-procurement system, the expected cost of the project was UAH 436.5 million.
Along with Onur, Rostdorbud LLC was a bidder in the tender with the price offer of UAH 428 million, and two more companies were not allowed to participate in the tender.
The tender was announced in October 2017, although changes were made to the tender documents several times. The project is to be completed by late 2019.
According to the public register, Onur Construction International LLC is belonged to Onur and Ihsan Cetinceviz.

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VINN-AGRO-EXPORT INVESTS $12 MLN IN BUILDING ELEVATOR IN VINNYTSIA REGION

Vinn-Agro-Export LLC (Vinnytsia region) has begun the construction of an elevator with a capacity of 65,000 tonnes in the village Makharyntsi (Vinnytsia region). According to a report on the website of Vinnytsia Regional State Administration, in an hour the elevator will be able to accept up to 600 tonnes of grain and ship up to 300 tonnes. In addition, the company plans to build a railway track branch. In future, the elevator will ship up to 50 wagons a day.
The company also plans to build a laboratory to determine grain chemical and biological composition. The expected investment is $12 million.
Vinn-Agro-Export is engaged in wholesale of grain, untreated tobacco, seeds and animal feed. According to the unified state register of legal entities and individuals, Anatoliy Yarmolenko is the ultimate beneficiary of Vinn-Agro-Export.

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