DTEK starts construction of the largest solar power plant in Ukraine

DTEK starts construction of the largest solar power plant in Ukraine

DTEK06 April 2018

DTEK and China Machinery Engineering Corporation (CMEC) signed the agreement for design and construction of the solar power plant (SPP) with the capacity of 200MW in the Dnipropetrovsk region. The signing ceremony took place during the round table “Chinese investments in the development of the energy sector of Ukraine” arranged by SilkLink Association. Once the construction is completed, the Nikopolska SPP will become the largest solar power plant in Ukraine and enter the TOP 3 of largest power plants in Europe.

DTEK starts construction of the largest solar power plant in Ukraine

СМЕС is part of the Sinomach government-owned group of companies. It is one of the leading contractors for energy projects worldwide. The total capacity of the energy projects exceeds 4300 MW.  The company is doing business in 150 countries around the world. CMEC will become an investor and contractor of the Nikopolska SPP project. The total value of the investments will reach EUR 230 mln.

The Nikopolska SPP construction project will be launched in April and completed by the end of 2018.  The new DTEK’s solar power plant will be located near Nikopol in Dnipropetrovsk region, on the territory of a depleted quarry. The SPP will be located on the land not suitable for agricultural production. The environmental impact of the SPP will involve an annual reduction of CO2 emissions by 300,000 tonnes.

The Nikopolska SPP will supply more than 280 mln kWh of “green” energy annually. This quantity will suffice to satisfy the demand of 100 thousand households. The solar power plant project will allow creating new jobs in the region, and local budgets will receive millions from tax payments.

“The Nikopolska SPP construction project is one of the largest deals aimed at attracting financing to the Ukrainian renewable energy sector. I believe that it will serve as a positive message to other investors that they can and should invest into the Ukrainian “green” generation. The national Energy Strategy has very ambitious objectives: to increase the renewable generation capacity up to 5 GW by 2020, to reduce the shortage of both natural gas and coal, and to reduce CО2 emissions by 40% by 2035. The implementation of the Energy Strategy requires tens of billions of dollars of capital investments, which will be invested in Ukraine only under a favourable investment climate and transparent rules of the game”, said DTEK’s CEO Maksym Timchenko. “China is the global leader in energy investments. Our Chinese colleagues, CMEC, have constructed 4.3 GW of capacities, including 600 MW of solar capacities. We highly appreciate this partnership. It is capable of becoming a powerful catalyst for the development of the Ukrainian energy sector”.

 

 “The Nikopol 240 MW (DC) Solar Project will be the biggest single solar generation facility in Ukraine and Europe. The combination of DTEK and CMEC will set up a benchmark of cooperation for rest of Ukraine and Chinese enterprises. We have confidence to deliver a successful project to the people of Ukraine, and more clean energy to facilitate the energy independence of Ukraine”, -  commented Mr. Zhang Chun, Chairman of the Board at CMEC.

“SilkLink, the Silk Road Association of Ukraine, as a live platform facilitating communication between Ukrainian and Chinese businessmen and state officials, provides a bridge for high-quality cooperation. We are ready to support, guide, and promote all ambitious Chinese-Ukrainian business-projects! Our key objective is to obtain benefits from the implementation of the Silk Road global project and attract investments to Ukraine’s economy”, emphasized Irina Nikorak, the founder and Executive Director of the Silk Road Association of Ukraine.

Reference

DТЕК is the largest private investor in Ukraine’s energy sector.
DTEK Group produces coal and natural gas, generates electricity at the termal, solar and wind power plants, distributes electricity, supplies electricity to end consumers, provides energy efficient solutions and develops a network of EV charging stations.
In 2018, DTEK’s capital investments totalled UAH 20 bln. besides, the company paid UAH 27 bln of taxes. DTEK employs 80 thousand people. The company is 100% owned by SCM Limited. Ultimate beneficial owner – Rinat Akhmetov.

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