By Swann Bigot, legal expert and consultant in international affairs, for Eurasia Network – March 1, 2018

photovoltaic panel - source pixabay

Photovoltaic panels – source : pixabay.

The Irish company Altostrata will invest € 255 million in the construction of a solar power station in the Dnipropetrovsk Oblast, revealed Interfax-Ukraine. This ambitious project would create almost 450 jobs.

 “The President Petro Poroshenko has set out the task to attract investment and to ensure a comfortable environment for business activities. The Ukrainian government gave the green-light to alternative energy projects. Irish investors have decided to invest in the construction of a solar power station”, stated Valentyn Reznichenko, the head of the Dnipro regional state administration during the ceremony of signature of the memorandum on March 1.

The 250 MW solar farm will be built on a 500-hectar area near the village of Levadka, in the Pavlogradsky district. The construction would be achieved within two years.

This large solar power station is expected to provide electricity to more than 40 thousand of households and companies, which is comparable to the energy consumption of the city of Pavlograd, which had 107,241 inhabitants as of December 2017.

Read also : A new 41 MW wind farm in Southern Ukraine

We are highly interested in cooperation with Ukraine. We begin our partnership in the Dnipropetrovsk Oblast, where we have received the support of the Investment-Innovation Center of the Dnipro regional state administration. We have found here an efficient system which encourages investment”, said Torsten Merkel, the Managing Director of Altostrata.

According to Oleh Kuzhman, Deputy Head of the Dnipro regional state administration, several renewable energy projects have recently been implemented in the Dnipropetrovsk oblast. Solar farms are already operating in Pidhorodne and Nikopol as well as in other regions of the country.

The Ukrainian government has set the goal to increase renewable energy share in the national power mix to 11% by 2020 and 25% by 2035. 

The country is committed to reduce its carbon emissions and fight climate change. Ukraine signed the Paris Climate Agreement in April 2016 and the national Parliament ratified the text in July 2016.

In accordance with the Energy Strategy of Ukraine until 2035, adopted in 2017, the country must reach a renewable energy share of 11% by 2020 and 25% by 2035.

Ukraine added 257 MW of new renewable energy capacities in 2017. The total installed capacity increased by 23% between 2016 and 2017, to reach 1,375 MW.

The Irish company Altostrata is engaged in renewable energy production and operates in America and Europe.

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© Copyright 2019 – Swann Bigot, legal expert and consultant in international affairs.

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