Portugal-based project developer Martifer Solar has signed an EPC contract with Green Agro Service for the construction of a 4.5MW PV project in Ukraine.
The deal represents Martifer Solar’s first major project in the Ukraine where it has opened a subsidiary.
In a statement issued yesterday, Martifer Solar told PV-Tech the photovoltaic plant would be located in Porogi, in the Vinnytsia region of the Ukraine. It will have the capacity to produce 5.37GWh per year and will prevent the emission of 5,000 tonnes of CO2 into the atmosphere each year.
The park will be made up of 18,300 modules installed on fixed structures on an area of approximately 10 hectares. As EPC contractor, Martifer Solar will be responsible for engineering, procurement and construction of the plant, and for its operation and maintenance (O&M).
The project has been overseen by local company, Rengy Development, a business that plans to build several photovoltaic parks in the region, with a total capacity of 50MW. The plant is scheduled to be concluded at the end of 2012.
PV-Tech understands this is the first solar energy project funded by the European Bank for Reconstruction and Development (EBRD) via the Ukraine Sustainable Energy Lending Facility (USELF). USELF is an investment facility designed to provide finance to local companies seeking to invest in renewable energy projects.
Henrique Rodrigues, CEO of Martifer Solar, described the EPC agreement as another important step in Martifer Solar’s “internationalization process“.
He said: “Since the beginning we have focused on internationalization and we are very pleased with our entry into Ukraine. We are happy that institutions such as the EBRD and Rengy Development have placed their trust in Martifer Solar Ukraine, where our aim is to take a leading position in this high potential market, whilst providing economic and environmental benefits to the local population.”
Narek Harutyunyan, Managing Director of Rengy Development, commented: “This is our first solar energy project in cooperation with Martifer Solar and it marks an important step for our company. We hope it will be the cornerstone of what may be a long-lasting partnership in this vibrant and high potential market.
“We value Martifer Solar’s experience in this sector of a number of European countries and trust that it will benefit the Ukrainian market, which is just starting development of solar energy.”
Earlier this year PV Tech reported how Martifer Solar’s plans to expand its PV power plant projects business remains on-track after completing two of the largest PV power plants in Portugal.
The plants are said to have a combined capacity of 22.4MWp. The project developer had around €235 million worth of projects in its backlog at the end of the first-half of 2012, with management expectation of increasing installations by a double digit amount this year, compared with around 200MW installed in 2011.