Business news from Ukraine


UDP Renewables has launched a photovoltaic power plant in Pervomaysk, Mykolaiv region.
“Pervomaysk” PV PP occupies an area of 12,3 hectares, with more than 19,7 thousand solar panels (330W of capacity) installed by Jinko Solar, the world’s biggest manufacturer of solar panels. This amount of panels can generate almost 7600 MWh of electricity per year. This is sufficient to meet the needs of 3,250 households.
“During the first nine months of this year, the capacity of renewable energy in Ukraine has doubled. We and our partners believe that the further growth of the share of renewables in the country’s energy mix is strategically important and we ensure that energy production at our stations is in line with the world’s best practices,” Vasyl Khmelnytsky, founder of UFuture, said.
Operation of “Pervomaysk” PV PP will allow to reduce carbon dioxide emissions up to 11 thousand tons per year.
“Our team has made significant efforts to launch “Pervomaysk” PV PP. This project is another contribution to the implementation of the National Energy Strategy. By the end of 2019, Ukraine will reach 4% share of renewables in the total electricity production. We are grateful to our partners — KNESS group of companies, Everlegal law firm, and the financial partner, JSB “Ukrgasbank”, for the support in the implementation of the project,” Sergiy Yevtushenko, co-founder and managing partner of UDP Renewables, said.
During the construction, 125 jobs have been created at the station. The general contractor has been KNESS.
UDP Renewables is an investment and development company in the Ukrainian renewable energy sector. With diversification in 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 total capacity of more than 300 MW.
UFuture, a holding company of Ukrainian entrepreneur, Vasyl Khmelnytsky, that integrates his business and impact-investment projects, is a strategic investor of UDP Renewables. UFuture has a diversified portfolio of assets in the fields of real estate, infrastructure, industry, renewable energy, pharmaceuticals, and IT. Currently, UFuture’s assets are estimated at $550 million, and the total capitalization of the businesses it invested in is more than $1 billion.



UDP Renewables has launched the Port Solar solar power plant with a capacity of 8.6 MW in Izmail, Odesa region.
According to the press service of the company, more than 25,700 solar panels manufactured by Jinko Solar (the largest global manufacturer of solar panels) are installed on an area of 16 hectares. It is expected that the plant will generate about 11,800 MWh of electricity annually.
The co-investor in the facility is Slovakia’s E-Group, the general contractor is the Metropolia Group of Companies (Kyiv).
“Involving the experience of our partners, UFuture and UDP Renewables are working to ensure that energy production in Ukraine complies with the best global environmental safety and energy efficiency practices. Our goal is more than 300 MW by 2022. Now we are following the plan, gradually implementing projects in the regions with the highest solar activity – Odesa, Zaporizhia, Kherson and Mykolaiv regions,” the press service said, citing the founder of the UFuture investment group Vasyl Khmelnytsky.
The company also reported that Ukrainian-built equipment worth over UAH 44.5 million was used in the construction of this plant. The total amount of attracted investments amounted to EUR 6.75 million.
UDP Renewables is an investment and development company in the field of renewable energy. It is part of the UFuture investment group, which belongs to Khmelnytsky.
E-Group is part of the INDUSTRY investments sub-fund that invests in energy. It belongs to the portfolio of the qualified investors fund ZMJ SICAV.

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UDP Renewables, a part of UFuture Investment Group, has launched its new solar power plant Scythia-Solar-2 in Melitopol (Zaporizhia region).
“UFuture and UDP Renewables continue to consistently realize the economic potential of Ukraine’s southern region following our long-term energy strategy. Now, the share of renewable energy sources in our country’s energy mix is only about 3%, but together we work towards changing this ratio. Our target is more than 160 MW of total production capacity by the end of 2019,” Founder of UFuture, Vasyl Khmelnytsky, said.
Scythia-Solar-2, with a peak capacity of 33.1 MW, occupies land area of 50 ha and consists of more than 91,000 solar modules produced by JA Solar. New PV PP will generate almost 42,000 MWh per year enabling to power 13,300 households.
“Scythia-Solar-2 is a high-tech facility. It is the second phase of our largest project Scythia-Solar, which we have started implementing in 2018. We have traditionally cooperated with Ukrainian equipment manufacturers and providers of respective services worth of UAH 288.5 million. During different stages of PV PP’s construction and operation, we created 315 jobs,” Managing Partner of UDP Renewables, Sergiy Yevtushenko, emphasized.
The project attracted €21.58 million of investments. The total capacity of two phases of Scythia-Solar is 46 MW, and the total investment reached €31.68 million. The launch of Scythia-Solar-2, instead of coal-fired power plants, will prevent 51 thousand tons of carbon dioxide emissions per year. Its general contractor is a Ukrainian group of companies, KNESS, and the financial partner is Oschadbank.
UDP Renewables is an investment and development company in the Ukrainian renewable energy sector. With diversification in 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 total capacity of more than 300 MW. UDP Renewables is a part of UFuture Investment Group, a Ukrainian private equity firm and group of companies based in Kyiv. It unites businesses and social projects of Ukrainian entrepreneur Vasyl Khmelnytsky. Throughout its 20-year history, the group has accumulated a diversified portfolio of assets that spans both traditional sectors and industries of the future, and ranges from real estate, infrastructure and manufacturing to pharmaceuticals, renewable energy and technology.

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Volyn West Wind 1, 2, 3 LLC (Volyn region) plans to build two wind farms with a capacity of 63 MW each and a wind farm with a capacity of 72 MW, according to information on the website of the environment assessment register.
Under the project it is planned to install 44 turbines with a capacity of up to 4.5 MW each. The height of the tower will be up to 125 meters. The area required for placing one turbine is 0.35 ha.
In addition, it is planned to build a 110 kV/35 kV substation and a 110 kV/35 kV power line.
The tentative useful life of the wind farms is 20 years.
According to the unified public register of companies, Volyn West Wind 1, 2, 3 LLC belongs to UDP Renewables of Vasyl Khmelnytsky and UDP Renewables Managing Partner Serhiy Yevtushenko.
As reported, UDP Renewables together with Spain’s Acciona Energia Global intends to build two solar power plants in Odesa region with a capacity of almost 44 MW by the end of 2019. Total investment in projects is EUR 30.6 million.

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UDP Renewables (Kyiv) plans by the end of 2019 jointly with Spain’s Acciona Energia Global to build two solar power plants in Odesa region with a capacity of almost 44 MW.
According to a report of UDP Renewables on its Facebook page, the total investment in the projects reached EUR 30.6 million. Construction works will start this week.
New solar power plants Hudzovka-Solar (Izmail) and Artsyz-Solar (the area of Pavlivka rural council) will have the peak capacity of 26 MW and 17.7 MW and the projected capacity of 19.8 MW and 13.5 MW respectively.
As reported, UDP Renewables is part of the UFuture Investment Group with its head office in Brussels, which was established in the fall of 2017 and brought together business projects of Vasyl Khmelnytsky.
In June 2018, UDP Renewables announced an agreement with Acciona Energia Global on a joint project to expand the Dymerka solar power plant to 57.6 MW by introducing its second, third and fourth phases. The first phase of the station with a capacity of 6 MW was launched by UDP Renewables in September 2017. Currently, Acciona is the only participant in this project through Dymerka Solar Poland.

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UDP Renewables of businessman Vasyl Khmelnytsky on March 1, 2019 launched its third solar power plant Scythia Solar 1 in Zaporizhia region with a power capacity of 13 MW. The company’s press service reported that investment in the project reached $10.1 million. The plant consists of 38,232 solar panels produced by JinkoSolar. It will allow generating nearly 16.2 GWh per year. The plant is located on an area of 20 ha.
EPC contractor is a Ukrainian group of companies KNESS. Financial partner of the project is Ukrgasbank (Kyiv). According to a posting on the website of UDP Renewables, it plans to boost the capacity of solar power plants from 24 MW to 175 MW this year.
As reported, in November 2018, UDP Renewables launched the 18.3 MW Free-Energy-Henichesk solar power plant in Kherson region. Investment totaled $18 million.
UDP Renewables currently also operates Dymerska Photovoltaic Power Plant 1 (Kyiv region) with a capacity of 6 MW.
UFuture Investment Group, headquartered in Brussels, was established in autumn 2017 and united the business projects of Khmelnytsky. The group includes the Ukrainian development company UDP, which core business is the implementation of large infrastructure projects.

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