Business news from Ukraine

BUSINESSMAN KHMELNYTSKY’S UFUTURE INVESTS $18 MLN IN BUILDING 18 MW SOLAR PLANT

UDP Renewables, part of UFuture Group of Vasyl Khmelnytsky, has built a solar power plant with an installed capacity of 18 MW in Kherson region, the businessman said on his Facebook page. “UDP Renewables has built an 18 MW solar plant in Rykove (Kherson region). Considering the fact that the Kherson sun is much more efficient than in Kyiv, we plan to fully pay back the investment ($18 million) in five or six years. The station will be connected in a few months,” he wrote. Khmelnytsky added that during the construction of the solar plant, racks, cables and inverters of Ukrainian origin were used, while solar panels were imported from China. To build the station, according to the businessman, the territory of the former industrial zone, unusable for agriculture, was used.
As reported, earlier the group of Khmelnytsky built the first stage of a solar plant with a capacity of 6 MW in the village of Velyka Dymerka of Kyiv region. After the construction of the first stage, the group attracted Spanish-based Acciona Energia Global as a partner for the expansion of the project.
UFuture Investment Group, headquartered in Brussels, was established in autumn 2017 and united the business projects of Vasyl Khmelnytsky. The group includes the Ukrainian development company UDP, whose specialization is the implementation of large infrastructure projects. In addition, the conglomerate united businesses in such areas as UDP Renewables, the Bila Tserkva industrial park, the innovative parks UNIT.City, and LvivTech.City.

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RIKO FROM SLOVENIA BUILDS SOLAR PLANT IN UKRAINE

The Slovenian company Riko in August this year will begin the construction of a solar power plant with a capacity of 10.6 MW near Zhytomyr, mayor of the regional center Serhiy Sukhomlin, who signed a contract with director of the Slovenian company Janez Skrabec, has said. “The plant will be built near the village of Hlybochytsia on a plot of 18 hectares. It is planned to complete the work by August 2019 … Special thanks to the members of the government of the Republic of Slovenia for the issue of EUR3 million grant funds for this project,” Sukhomlin wrote on Facebook.
He noted this is the second project that Riko will implement in Zhytomyr: previously Slovenia won a tender for the reconstruction of the drinking water pumping station of municipal enterprise Zhytomyrvodokanal.
Deputy Prime Minister, Minister of Regional Development, Construction, Housing and Utilities Services of Ukraine Hennadiy Zubko, in turn, congratulated Zhytomyr with the launch of such an ambitious project and expressed belief that the city has all chances to become Ukraine’s first city having its own solar power plant. “Financing the project: credit facilities plus financial support from the government of Slovenia plus city guarantees,” Zubko wrote on his Facebook page. He also noted that the future effect for Zhytomyr is about EUR1.65 million of additional revenue per year, and also the reduction in carbon dioxide emissions.

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NORWEGIAN SCATEC SOLAR TO START BUILDING SOLAR PLANT IN UKRAINE IN 2018

Norway’s Scatec Solar intends to begin the construction of solar power plants with a total capacity of 83 MW in Cherkasy region this year, the company’s press service has reported. The total cost of building solar plants is EUR 85 million. Scatec Solar expects the EBRD to participate in the project. According to the company, the matter concerns the construction of two stations with a capacity of 33 MW and 50 MW respectively. Land plots are to be rented from municipalities.
As reported, Scatec Solar previously included the construction of solar plants with a total capacity of 150 MW in Ukraine in its project portfolio.
Scatec Solar has already built and operates 322 MW solar plants in various countries, and another 434 MW of photovoltaic plants are under construction. Scatec Solar operates in the Czech Republic, South Africa, Rwanda, Honduras, and Jordan.

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SUBSIDIARY OF VR GLOBAL PARTNERS COULD BUY 50% IN 60 MW SOLAR PLANT

Cyprus-based Wiltan Enterprises Limited, controlled by VR Global Partners and affiliated with VR Capital Group, has asked the Antimonopoly Committee of Ukraine (AMC) to approve the possible purchase from the partners of ICU Investment Group, Makar Paseniuk and Kostiantyn Stetsenko, of 50% of Cypriot-based Matlomenius Holdings Ltd, which owns private enterprise PodilskEnergo (Kyiv), which is building a solar power plant with a capacity of 60 MW.
According to the AMC, the agency plans to consider granting permission to Wiltan Enterprises to purchase Matlomenius Holdings shares, which will provide the buyer with 50% of the voting shares on the company’s board, this week.
ICU Investment Group did not comment on this information.
According to data from Ukrenergo, the connection of this solar plant, formerly known as Kamyanets-Podilska solar power plant, is scheduled for this year, and its cost is estimated at UAH 3.358 billion.
According to the state register, PodilskEnergo was established in late 2012.
The project of Kamyanets-Podilska solar power plant was previously developed by Torense Group, announcing investments of EUR72 million. However, according to Opendatabot, then Roman Kohut, connected with a number of other solar plant projects, became its owner, and Matlomenius Holdings replaced him at the beginning of February this year.

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CHINA’S CMEC AND DTEK PLAN TO BUILD 200 MW SOLAR PLANT IN UKRAINE, VOLUME OF INVESTMENTS EXCEEDS EUR230 MLN

DTEK and China Machinery Engineering Corporation have signed a contract for the construction of a solar power plant with an installed capacity of 200 MW in Nikopol (Dnipropetrovsk region). DTEK Head Maksym Tymchenko told reporters the project cost is estimated at EUR230 million.
The construction of the facility is to be completed by the end of this year. It is planned from March 2019 to start electricity supply to the energy system of Ukraine.
“The 200 MW project is the beginning of the road. We have ambitious plans to build up to 1,000 MW of solar and wind power generation facilities by the end of 2019. The volume of investments for such projects will exceed EUR1 billion,” the DTEK head said.
Tymchenko did not disclose all the details of securing the financing of the project for the construction of a solar power plant, but noted that the company will invest tens of millions of euros in the project, while Chinese company’s investments will be secured by the Export Credit Agency of China.
The head of DTEK also said the company is also interested in CMEC technologies for reconstruction of coal-fired power units at thermal plants and their bringing to compliance with the EU emission standards.

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