Scatec Solar partners Rengy on 47MW of solar in Ukraine

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Last month, Scatec Solar signed agreements to build two solar PV projects with capacities of 33MW and 50MW in the Cherkassy region of Ukraine. Credit: Scatec

Oslo-headquartered clean energy firm Scatec Solar has entered into agreements with Ukrainian developer Rengy Development to deliver 47MW of solar projects in the Mykolaiv region in the south of Ukraine.

Scatec Solar, which will provide EPC and O&M services, will own 51% of the projects and Rengy Development will own the remaining 49%.

The projects will be realized under the country's feed-in tariff (FiT) scheme and the three plants are expected to produce about 58GWh of power per year. Public land will be leased for an extended time-period and the plants are expected to deliver power also beyond the 10-year FiT period.

Rengy Development has already built and commissioned a 70MW portfolio of solar projects in Ukraine.

Total capex for the projects is estimated to be €52 million (US$60.5 million). The project finance process has been initiated with the European Bank of Reconstruction and Development (EBRD) in lead. Financial close and construction start is expected later in 2018 with commercial operation due during 2019.

“We are very happy to partner with a strong local player as Rengy Development to further strengthen our position in Ukraine. Rengy Development brings a solid track record in solar in Ukraine to the project ensuring efficient realization. We see a continued strong commitment by the Ukrainian government to secure growth of clean energy in the country,” said Scatec CEO Raymond Carlsen.

With this agreement, Scatec Solar has so far secured 130 MW of projects under the FiT scheme in Ukraine.

Last month, Scatec Solar signed agreements to build two solar PV projects with capacities of 33MW and 50MW in the Cherkassy region of Ukraine.

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