Scatec Solar Gets 47 MW Solar Project in Ukraine

Further, the projects will be realized under the country’s feed-in-tariff scheme and the 3 plants are expected to produce about 58 GWh per year.

Solar Project in Ukraine

Independent solar power producer Scatec Solar has entered into agreements with Rengy Development securing projects of 47 MW in Ukraine.

Further, the projects will be realized under the country’s feed-in-tariff scheme and the 3 plants are expected to produce about 58 GWh per year.

The company said that the public land will be leased for an extended time-period and the plants are also expected to deliver power beyond the 10 years feed-in-tariff period.

As per the deal, Scatec Solar will own 51 percent of the projects and Rengy Development will own the remaining projects.

Moreover, Scatec Solar will be the Engineering, Procurement and Construction (EPC) services provider and also provide operation & maintenance along with asset management services to the power plants.

With this pact, Scatec Solar has so far secured 130 MW of projects under the feed-in-tariff scheme in Ukraine.

“We are very happy to partner with a strong local player as Rengy Development to further strengthen our position in Ukraine. Rengy Development brings a solid track record in solar in Ukraine to the project ensuring efficient realization. We see continued strong commitment by the Ukrainian government to secure growth of clean energy in the country,” said CEO Raymond Carlsen who signed the agreement and visited Kiev this week.

Rengy Development is one of the largest developers and independent solar power producers in Ukraine. It was established in 2009 and has to date developed, built and commissioned a 70 MW portfolio of solar power plants in Ukraine.

Total capex for the projects is estimated to EUR 52 million. The project finance process has been initiated with the European Bank of Reconstruction and Development (EBRD) in lead. Financial close and construction start is expected later in 2018 with commercial operation during 2019.

"Want to be featured here or have news to share? Write to info[at]saurenergy.com
Manu Tayal

Manu Tayal

Manu is an Associate Editor at Saur Energy International where she writes and edits clean & green energy news, featured articles and interview industry veterans with a special focus on solar, wind and financial segments.

      SUBSCRIBE NEWS LETTER
Scroll