Czech Company Plans to Invest EUR 400 Mln Into Solar Plants in Ukraine

KYIV, Ukraine, February 21, 2013 /PRNewswire/ --

Czech group of companies Ekotechnik Czech plans to invest EUR 400 million into the construction of solar power plants in the Khmelnytskyi oblast, Ukraine. The total installed capacity of solar plants in the region will reach 160 MW, reported the Khmelnytskyi Oblast State Administration.

Ekotechnik Czech's intention to invest into Ukraine's photovoltaic market is recorded in the memorandum between the company's representative in Ukraine - Ekotechnik Ukraine - and Khmelnytskyi administration. The photovoltaic units will be installed in 14 districts: Dunavets, Khmelnytsk, Vinkovets, Yarmolynets, Novoushytsk, Kamianets-Podolskyi, etc.  In total, Ukrainian authorities plan to lease approximately 400 hectares to the company for the construction purposes.

Implementation of the project is aimed at improving the energy balance, social and environmental situation in the abovementioned districts. The construction and operation of solar power plants will offer 230 new jobs and increase annual revenues to the local budgets by 4.4 million USD.

In October 2012, Ekotechnik Czech completed the construction and put into operation the first solar power plant in Ukraine with designed capacity of 5 MW in Yasenovka, Khmelnitskyi region. The company also plans to engage in solar power plants construction in Kyiv, Dnipropetrovsk, Zakarpattia, Vinnytsia, and other regions of Ukraine. According to the Czech company's website, their assets portfolio in Ukraine exceeds  220 MW.

Notably, in the last three years Ukraine built 20 solar power stations with the total capacity of 270 MW. In 2011 the country launched the largest in Europe and CIS solar power park Perovo in Crimea, southern Ukraine, with the capacity over 105 MW.

Macquarie Research forecasts that by 2016 Ukraine will introduce solar power plants with the capacity of 1.8 GW - an equivalent of two nuclear reactors. In December 2012, the President of the European Renewable Energy Federation, Rainer Hinrichs-Rahlwes, reckoned that the use of renewable energy would allow to significantly cut the volume of energy import in Ukraine, as well as strengthen the independence of the country.  In October 2012, Ukraine made a commitment to the European Energy Community to increase renewable energy share in its energy balance up to 11 percent by 2020.