French company plans to build a 1,25 billion dollar solar power plant in Chornobyl

Source : 112 Ukraine

Some 60 companies are currently interested in managing projects in the exclusion zone
16:01, 8 July 2017

Ukraine is negotiating with Engie SA, one of the biggest companies in France, on building a huge solar power plant worth 1,25 billion dollars in the exclusion zone, Bloomberg reports.

“France’s experience in nuclear is one of the reasons that we wanted to work with them,” Ostap Semerak, Ukraine’s Minister of Ecology, said.

He added that the French company addressed the Ukrainian government after they announced the intention to develop renewable energy industry in Chornobyl.

Related: EBRD to finance interim storage facility construction in Chornobyl

Engie SA confirmed they are negotiating with Ukraine, but they refused to discuss the details of the project. According to Semerak, around 60 companies are now interested in managing projects in the exclusion zone.

The media adds that now Ukraine has the highest tariffs for renewable energy. The highest price for kilowatt-hour is 15 eurocents, while in most countries it’s no more than 8,6 eurocents.

“That’s a generous remuneration rate, but perhaps not so much if you take into account the risk profile of the country,” said Pietro Radoia, solar analyst at BNEF. “Ukraine has good solar irradiation, but a low level of confidence from investors and the consequent prohibitive cost of financing.”

As we reported earlier, 50 Ukrainian and international companies want to set solar panels in Chernobyl zone.

Related: Garbage in Ukraine: How Lviv and the whole country will solve the problem

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