The mining company has installed a solar power plant without using the FIT

Ferrexpo mining company has installed a pilot SPP with a capacity of 5 MW at the industrial site of the Poltava mining and processing plant, the press service of the State Agency on Energy Efficiency reports.

The peculiarity of the project is the absence of the use of any subsidies or FITs.

This is the first SPP among all facilities of the mining industry in Ukraine.

“The solar power plant, which will produce electricity for the company's own needs, is the first step towards decarbonization and increasing its competitiveness. A good example for other companies that want to be energy independent and successful in foreign markets without the risks of the CBAM,” Yurii Shafarenko, Deputy Chairman of the State Agency on Energy Efficiency commented.

The SPP will produce 6.5-7 million kWh of electricity per year and supply it for consumption by the group's enterprises at the existing industrial site.

The solar station consists of almost 10 thousand batteries. The panels are installed on the dumps of the quarries for rational use of the area.

Ferrexpo plans to build a power plant for the production of renewable energy with a capacity of 250 to 1000 MW in the medium term.

The company plans to switch to clean energy as part of its product decarbonisation program.

Tags: solar energy, feed-in tariff, electricity market, renewables, investments, Ukraine, the State Agency on Energy Efficiency, ecology, decarbonisation

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