By Eurasia Network – January 12, 2020

View on solar panels – Photo credits : Pixabay

The Ukrainian Antimonopoly Committee has granted on December 22 the purchase by Nebras Power Investment Management BV of over 50% of Terslav LLC and Sun Power Pervomaisk LLC.

Registered in the Netherlands, Nebras Power Investment Management is controlled by Nebras Power, founded in 2014 and headquartered in Doha, Qatar. 

Both companies Terslav LLC and Sun Power Pervomaisk LLC are part of the UDP Renewables group, owned by the businessman Vasily Khmelnitsky as report press sources.

UDP Renewables put into operation in May 2020 the 20 MW solar power plant “Terslav” on the territory of the Obukhovsky village council in the Dnipropetrovsk region in May 2020. Investment in the project was estimated at around 15.5 million euros. The station covers an area of 28 hectares and is equipped with more than 91,000 solar panels provided by Longi Solar. The station generates almost 23,275 MW/h per year. This is enough to provide electricity for about 9,000 households.

The 6.5 MW solar farm “Pervomaisk” is located in the Nikolaev region and was launched in November 2019. The station covers an area of ​​12,3 hectares, with more than 19,7 thousand solar panels installed by Jinko Solar, a leading manufacturer. This amount of panels can generate almost 7,600 MWh of electricity per year and meet the needs of 3,250 households. During the construction 125 jobs have been created. The general contractor was the Ukrainian company KNESS.

Nebras Power is engaged in strategic investments in the energy sector around the world, managing 14 generation facilities with a total installed capacity of 6.3 GW. The owners of Nebras Power are Qatar’s state-owned company Qatar Electricity and Water Company (QEWC) (60%) and the Qatar Investment Authority (40%).

In October 2019, the CEO of Nebras Power spoke at a panel discussion in Kyiv dedicated to “Investment Attractiveness of the Emerging Markets: Risks and Opportunities.”

Headed by the holding company UFuture of Vasyl Khmelnytsky, UDP Renewables is engaged in the Ukrainian renewable energy sector and plans to become by 2022 one of the largest producers of clean energy in Ukraine, with a total capacity of more than 300 MW.

 Read also : Why investors choose Ukraine for renewable energy ?  

In July 2020 the Ukrainian Parliament adopted the bill on green tariff in second reading. The new legislation reduces the amount of compensation under green tariff for solar power plants by 15% and for wind farms – by 7.5%. 

 Ukraine has been reforming its energy sector since 2009 by adopting legislation on renewable energy.  The country joined the European Energy Community in February 2011 and set in October 2014 the goal to increase renewable energy share in the national power mix to 11% by 2020 while the Energy Strategy of Ukraine until 2035, adopted in 2017, set the target of 25% of renewable energy share by 2035.

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