XI'AN, China, April 1, 2019 /PRNewswire/ -- Ukraine's second largest power plant was launched in the village Panovtsy, Kamianets-Podilskyi district of the Khmelnitsky region.

The solar power plant is a joint-venture by ICU, an independent asset management, private equity and investment advisory firm specialising in Central and Eastern Europe and VR Capital Group, an alternative asset manager specializing in global emerging markets. The plant represents an investment in materials and construction of approximately US$55m.

As one the largest foreign direct investment project in Ukraine, this plant will generate approximately 68,200 MW/H of clean energy per year and its peak capacity will reach 63.8MW. The generated electricity will supply one-third of all the households in Kamianets-Podilskyi city and help cut carbon emissions by 67,000 tonnes annually.

As the sole modules supplier for the project, LONGi Solar, will provide 63.8MW monocrystalline PERC module and technical support throughout the project. With the high-efficiency PERC mono modules, whole-process technical guidance and after-sales services, LONGi Solar has won the favour of many local partners and established a long-term good relationship in the Eastern European market.

Richard For, Vice President of LONGi Solar, said: "The demand from emerging markets is increasing. On the one hand, we are very grateful to local customers and partners in Ukraine for their recognition and trust in LONGi; on the other hand, as a global photovoltaic enterprise that has maintained stable development, LONGi is confident that rising technologies and reliable products will boost the widespread use of clean energy in Eastern Europe."

Commenting on the opening, Makar Paseniuk, Managing Partner of ICU said:

"We are confident that our projects will provide significant support to achieving energy independence of Ukraine by focusing on alternative energy sources and will help decrease the amount of harmful emissions into the atmosphere."

About LONGi:

Founded in 2000 and listed on Shanghai Stock Exchange in 2012, LONGi is the world's largest manufacturer of solar monocrystalline silicon wafers, cells and modules, with an industrial chain throughout the world. LONGi expects to expand monocrystalline silicon wafer capacity to 45 GW by 2020. LONGi accounted for 38% of the global monocrystalline silicon wafer capacity and held the fourth place in the global module shipment in 2018. It ranked No.1 in the global monocrystalline module shipment in 2016, 2017 and 2018 for three consecutive years.

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SOURCE LONGi Solar