09 Apr Ukraine and China agree JV to build 200MW solar power station
Ukraine’s largest private power producer DTEK and China’s CMEC have agreed to form a joint venture (JV) advancing a US$282 million solar energy generating facility.
The 200MW solar power station will be built in the central Ukrainian region of Dnipropetrovsk and will become Europe’s third largest solar plant in terms of potential output.
“It’ll be completed in a very short space of time – before the end of this year,” said DTEK chief executive Maksim Timchenko at a signing ceremony in Kiev with CMEC’s chairman Zhang Chun.
DTEK is a relative minnow in the solar power sector, having launched its inaugural Tryfonivska Solar Power Plant, with 10MW capacity, last August. However, the power company is set to benefit from Chinese expertise under the JV.
Last year, China added a record 157GW of new renewable energy capacity, with solar accounting for a large percentage of this figure.
The ground-breaking project will be financed with a combination of DTEK funds and a loan from CMEC, the size of which was not announced.
Ukraine’s energy supply remains heavily dependent on traditional fossil fuels and nuclear power, with renewables accounting for just 1% of total power generation last year.
However, DTEK plans to increase its renewable capacity to 1,000MW in 2019, according to Timchenko.