The largest private power producer in Ukraine, DTEK, and the China Machinery Engineering Corporation (CMEC) said on Friday they had agreed upon a joint project to build one of the largest solar energy generators in Europe, UNIAN reports.
The total cost of the project is estimated at $282 million. The solar power station will be built in the Dnipropetrovsk region (central Ukraine). Its planned capacity of 200 megawatts (MW), which would make it the third largest in Europe in terms of potential output, according to Reuters.
“The construction of the station is expected to be completed in a very short space of time – by the end of the present year,” the chief executive officer of DTEK Maksym Tymchenko said during a signing ceremony in Kyiv with the chairman of the CMEC Zhang Chun.
The project is going to be funded by both DTEK money and a loan from the CMEC. However, the amount of the loan has not been announced yet. DTEK is relatively new to the field of solar power generation, as it launched its first solar project – Tryfonivska Solar Power Plant with 10 MW capacity – last August.
The energy sector of the country is still heavily dependent on conventional fossil fuels and nuclear power. Last year, renewable sources of energy accounted for about 1% of total energy. DTEK intends to boost its renewable capacity to 1,000 MW in 2019, according to Tymchenko.
The Chinese corporation led a record 157 gigawatts (GW) of new renewable energy capacity added throughout the globe in 2017, over double the amount of new generation capacity from fossil fuels, a report published on Thursday revealed.