ACCIONA and UDP Renewables start building two more photovoltaic power plants in Ukraine

Located in Odesa region, the plants will have an overall peak capacity of almost 44 MW and will be installed before the end of 2019

03 June 2019 – UDP Renewables has signed an agreement with ACCIONA to build two photovoltaic power plants (PVPP) in Odesa region. Total investments amounted to 30.6 million euros. Construction works will start this week.

“This is not our first joint project with ACCIONA, and we are happy with the partnership. For us, it is a chance to develop Ukraine’s solar energy industry with one of the world’s leaders in this area. This brings us not only reliable investments but also the best practices and the highest standards of project implementation. The latter is essential for the burgeoning market, especially if you consider that Ukraine has a long way to go,” said Vasyl Khmelnytsky, Founder of UFuture Investment Group.

“We are very pleased to continue contributing to the development of renewable energies and sustainability of the energy system of Ukraine, a country with interesting opportunities for the sector,” explained Joaquín Castillo, ACCIONA Director of Energy Business Development.

The two new plants – Gudzovka–Solar (Izmail) and Arcyz–Solar (the territory of Pavlivka rural council) – will have peak capacities of 26 MW and 17.7 MW and rated capacities of 19.8 MW and 13.5 MW, respectively. Both will be equipped with polycrystalline silicon panels mounted on fixed structures that will be completed before the end of this year.

Gudzovka–Solar and Arcyz–Solar will produce around 55 GWh of clean energy annually (equivalent to the consumption of over 23,000 Ukrainian homes), at the same time avoiding the emission of around 53,000 tonnes of carbon dioxide to the atmosphere.
As it was mentioned earlier, the first project of the Spanish company in Ukraine was the construction of Dymerka PVPP in Kyiv region with an overall peak capacity of 57.6 MW. The first phase of the plant’s has been commissioned by UDP Renewables in 2017.


ACCIONA is a Spanish conglomerate group specializing in large-scale infrastructure projects and renewable energy. ACCIONA is a global operator in renewable energies with 30 years’ experience and a presence in more than 40 countries. In 2018, the company’s revenues amounted to 7.5 billion euros. Its mission is to lead the transition to a low-carbon economy by efficient use of resources and environmental responsibility. ACCIONA applies criteria of quality and innovations to all its projects. The company produces over 9,600 MW in 16 countries on five continents. It owns and operates 222 wind farms, 76 hydro plants, six large photovoltaic plants, three biomass plants, and a CSP plant.

UDP Renewables is an investment and development company in the Ukrainian renewable energy sector. With diversification in type of renewable power generation and geography, by 2022 UDP Renewables strives to become one of the largest producers of clean energy in Ukraine, with total capacity of more than 300 MW. UDP Renewables is a part of UFuture Investment Group, a Ukrainian private equity firm and group of companies based in Kyiv. It unites businesses and social projects of Ukrainian entrepreneur Vasyl Khmelnytsky. Throughout its 20-year history, the group has accumulated a diversified portfolio of assets that spans both traditional sectors and industries of the future, and ranges from real estate, infrastructure and manufacturing to pharmaceuticals, renewable energy and technology.