With the 47 MW PV capacity in its bag, Scatec Solar now has a total of 130 MW capacity under development in Ukraine. (Photo Credit: Scatec Solar)
- Scatec Solar has signed an agreement with Ukraine’s Rengy Development to acquire stake in three projects with 47 MW combined capacity in Ukraine
- Scatec Solar will provide EPC, O&M and asset management services for these projects
- It will become a major shareholder in the projects with 51% stake; Rengy holding will keep remaining 49%
- Construction is expected to begin in the later part of 2018, commercial operation is scheduled for 2019
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Norway’s Scatec Solar will be developing 47 MW solar power project capacity in Ukraine, its third in the Eastern European country. It has secured an agreement with Rengy Development for three projects. Scatec will own a 51% share, Rengy will will remaining 49% stake in the projects.
In June, Scatec announced it was developing two projects with 33 MW and 50 MW capacity in Ukraine ‘s Cherkassy region.
An independent solar power producer, Rengy holds a commissioned solar power capacity of 70 MW in Ukraine. The 47 MW capacity will be realized under the country’s feed-in-tariff scheme.
Scatec Solar plans to start construction work later this year once financial closure is achieved. Commissioning is scheduled for 2019. Scatec will also provide operation and maintenance as well as asset management services to the plants.
All three projects will be located in the Mykolaiv region in south of the nation. On completion, these are expected to generate around 58 GWh of clean energy annually. Capital expenditure on developing this capacity will be around €52 million ($60.54 million). The European Bank for Reconstruction and Development (EBRD) is leading the project finance process.
Scatec Solar is targeting 3.5 GW of solar power capacity in operation and under construction by the end of 2021. Currently it has 322 MW of operational PV plants, and another 1,092 MW under construction.