Kyiv, 5 November 2018. – UDP Renewables, which develops the projects of UFuture Investment Group in the field of renewable energy, has commissioned the Free Energy Genichesk photovoltaic power plant (PV PP) in Kherson region. Investments in the construction of the PV PP with 18,3 MW of peak capacity amounted to over $18 million.
“We continue developing in green energy, this is one of the most interesting areas of business in Ukraine now. Over the past year, the photovoltaic capacity in our country has almost doubled, but we still have room to grow, compared to Europe, where the average share of renewable energy is about 8,5%. Thanks to the synergy of foreign investment, the most efficient international experience and local expertise, this industry can very quickly develop in Ukraine, and we are pleased to be one of the engines of its development,” emphasized the founder of the UFuture investment group Vasyl Khmelnytsky.
The plant consists of 65 340 solar cells and occupies nonagricultural land area of 23 ha. Planned amount of produced power is 23 500 MWh per year that enables to power 9 000 households and provides employment opportunities. Since the beginning of the project development, 250 jobs have already been created.
“Our company has approved an ambitious strategy of expanding its presence in the field of renewable energy, and I am glad that we have managed to take another significant step towards its implementation. I want to thank our financial partner, general contractor, as well as suppliers and all highly qualified specialists who participated in implementing of the project,” said Sergiy Yevtushenko, managing partner of UDP Renewables.
The photovoltaic panels produced by JinkoSolar, the global leader in solar energy, were used under Free-Energy-Henichesk PV PP construction. Additional products and services were purchased from Ukrainian suppliers. The total amount of taxes paid to budgets of different levels during the construction of the power plant is about 50 million UAH. Financial partner of the project is UKRGASBANK, EPC Contractor is KNESS, Ukrainian Group of companies.
Free Energy Genichesk PV PP is the second UDP Renewables’ completed large-scale project. Now the company carries out the operational management of the Dymerskaya SES-1 PV PP (Kyiv region) with a capacity of 6 MW. UDP Renewables’ strategy is to commission 200 MW of installed capacity in Southern regions in 2018-2019.
UFuture Investment Group, headquartered in Brussels, was established in autumn 2017 and united the business projects of Ukrainian entrepreneur Vasyl Khmelnytsky. The group includes the Ukrainian development company UDP, whose specialization is the implementation of large infrastructure projects. In addition, the conglomerate united such businesses as UDP Renewables (green energy), the Bila Tserkva industrial park, the innovation parks UNIT.City and LvivTech.City, pharmaceutical producer Biopharma.
UFuture also supports and coordinates social projects related to education and economics, some of which are annual Kyiv International Economic Forum, cutting-edge IT coding school UNIT Factory and K.Fund Books publishing project.