The project will be realised in collaboration with PowerChina Guizhou Engineering Co. Ltd. that will provide construction financing and Engineering Procurement and Construction (EPC) services to the project, while Scatec Solar will be the equity investor and provide EPC management, Operation & Maintenance as well as Asset Management services.
“The Progressovka project is another confirmation of our strong position in Ukraine where we currently have a project portfolio of 500 MW. The collaboration with Power China on this project gives us access to cost competitive financing as part of a turn key EPC solution. The remaining part of our project portfolio in Ukraine will be realised with Scatec Solar as EPC provider and with financing from the multilateral development banks”, says Raymond Carlsen, CEO of Scatec Solar.
The two-year construction financing facility from Power China covers 65% of the €124 million capex for the project.
The project will be realised under Ukraine’s 10-year Feed-in-Tariff scheme and is expected to deliver about 187 GWh per year. The plant located in the southern Ukraine will be providing clean energy for about 76.000 households and contribute to avoid about 150.000 tons of carbon emissions per year. Public land will be leased for an extended time-period and the solar power plant is expected to deliver power also beyond the Feed-in-tariff period.
Earlier it was announced that Norwegian Scatec Solar will start the construction of SPP with capacity of 50 MW in Kherson region.
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