Norway’s Scatec Solar in 2018 established and acquired around a dozen of companies in Ukraine to implement its projects to build solar power plants. According to a report of Scatec Solar for 2018, the company entered into agreements with Rengy Development and obtained 51% in Rengy Bioenergy. At the end of 2018, the companies started building a solar power plant in Mykolaiv region with a capacity 47 MW for EUR 52 million. The European Bank for Reconstruction and Development (EBRD) and the Black Sea Trade and Development Bank (BSTDB) signed credit agreements of 50% each of the non-recourse debt financing of the project. The credit facilities amount to EUR 36 million and covers 70% of the total project costs. Commercial operation is expected during 2019.
In 2018, Scatec Solar signed agreements securing the 30 MW Kamianka project in Cherkasy region with a total investment of EUR 35 million. EBRD and FMO, the Dutch development bank, signed credit agreements for the non-recourse debt financing of the project. The credit facilities amount to EUR 24.5 million and covers 70% of the total project costs. Construction started early 2019 with commercial operation expected in fourth quarter 2019.
During 2018, Scatec Solar signed agreements securing projects with total capacity of 251 MW in Ukraine. Two of these projects secured financing in 2018 and moved into construction with 174 MW in project backlog. Total capex for the projects is estimated to EUR 193 million. In Ukraine, Scatec Solar is developing projects totalling 163 MW in addition to the 251 MW in project backlog and under construction.
For the implementation of the projects the company also established Scatec Solar Ukraine Opr Comp (EPC) in 2018. The Norwegian company in 2018 via its Dutch subsidiary Scatec Solar Ukraine B.V. became owners of 100% of Atlas Capital Energy, Greenteco SES, Progressovka and Boguslav Energy.
Atlas Capital Energy LLC, belonged to Norway’s Scatec Solar, in March 2019 will start building a solar power plant with a capacity of 50 MW in Hola Prystan district of Kherson region. This information was presented at a meeting of Head of Kherson Regional Administration Andriy Hordeyev with top managers of Atlas Capital Energy LLC on Wednesday, the press service of the administration reported. Currently, according to the regional administration, five wind farms and 31 solar power plants with a capacity of 294 MW are located in Kherson region. The volume of attracted investments in these facilities is UAH 1 billion.
As reported, in January 2019, Scatec Solar said that its investment in the construction of a solar power plant with a capacity of 150 MW in Mykolaiv region will amount to EUR180 million. In July 2018, the company signed an agreement with Rengy Development (Kyiv) on the joint construction of a solar power plant in Mykolaiv region with a capacity of 47 MW for EUR 52 million.
At the beginning of 2019, Scatec Solar also commenced construction of a Kamianka solar power plant in Cherkasy region with a capacity of 30 MW. The cost of the project, which is scheduled for completion in the fourth quarter of this year, is EUR 35 million.
The European Bank for Reconstruction and Development (EBRD) finances these projects – traditionally it provided for financing of 70% of the project cost.
The investment of the Norwegian company Scatec Solar in the construction of a solar power plant with a capacity of 150 MW in Mykolaiv region will amount to EUR180 million. Framework agreements for the participation of Norwegian developers in the construction of solar and wind power plants in Ukraine were signed during the Norwegian-Ukrainian Business Forum in Oslo on January 28.
Scatec Solar during the forum signed an agreement on the purchase of the relevant project with the Ukrainian company SM Invest & Construction.
The Dutch company SM Invest & Construction B.V., which is owned by Ukrainian citizen Roman Sotsky, owns Progresova Solar B.V. LLC and a number of other companies in Mykolaiv region. Sotsky and Oleh Mozgovy signed the memorandum on behalf of the Ukrainian side.
Norsk Solar, in turn, during the Oslo forum, signed a memorandum on the construction of a solar power station in Kyiv region for EUR9.2 million with Pro-Energy LLC, owned by Ruslan Delidon and Dmytro Osypov.
During the forum, a memorandum on the participation of the Norwegian company NBT in the installation of 742 MW wind power stations in Zaporizhia region was also signed. The project is designed until 2022 and is estimated at EUR1 billion.
Norwegian-based Scatec Solar and partners have closed financing for the 30 MW Kamianka project in Cherkasy region in central Ukraine with a total investment of EUR 35 million, the company’s press service said. The European Bank for Reconstruction and Development (EBRD) and FMO, the Dutch development bank have signed credit agreements for the non-recourse debt financing of the project. The credit facilities amount to EUR 24.5 million and cover 70% of the total project costs.
Scatec Solar says it is in the process of securing additional equity partners for the project.
Scatec Solar will be the lead equity investor in the project; it will also be the Engineering, Procurement and Construction (EPC) provider and provide Operation & Maintenance as well as Asset Management services to the power plant. Construction is starting early 2019 with commercial operation in the fourth quarter 2019.
The company says the project will be implemented under the country’s 10-year feed-in-tariff scheme and is expected to produce about 39 GWh per year. Public land will be leased for an extended time period and the solar power plant is expected to deliver power also beyond the feed-in-tariff period.
Scatec Solar is an integrated independent solar power producer, delivering rapidly deployable and sustainable clean energy worldwide. Scatec Solar develops, builds, owns, operates and maintains solar power plants and has an installation track record of more than 1 GW. The company has a total of 1.5 GW in operation and under construction in Argentina, Brazil, the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South Africa, and Ukraine.
As reported, Ukraine’s parliament on November 20, 2018, passed draft law No. 8449-d in the first reading to introduce “green” auctions from 2020. The legislative initiative envisages, among other things, a reduction in the feed-in tariff for solar power plants by 25% in 2020, to be followed by a 2.5% decrease each year.
Norway’s Scatec Solar has included into its project portfolio the construction of solar power plants with a total capacity of 150 MW in Ukraine, the company’s press service reported. The company has not disclosed any other details regarding the construction of stations. As reported with reference to Cherkasy Regional Administration, Scatec Solar planned to build a solar power plant with the installed capacity of 25 MW in Kamianka, Cherkasy region. Scatec Solar has built solar power plants with a total capacity of 322 MW in different countries. The company is in the process of building plants with the capacity of 434 MW.
Scatec Solar operates in the Czech Republic, South Africa, Ruanda, Honduras and Jordan.
Norway’s Scatec Solar seeks to build a solar power plant with the installed capacity of 25 MW in Kamianka (Cherkasy region), the press service of the Cherkasy Regional Administration has reported. Scatec Solar has built solar power plants with a total capacity of 322 MW in different countries. The company is in the process of building plants with the capacity of 434 MW. Scatec Solar operates in the Czech Republic, South Africa, Ruanda, Honduras and Jordan.