June 3 (Renewables Now) - Acciona SA (BME:ANA) said Monday it had come to an agreement with Ukrainian developer UDP Renewables (UDPR) to build two solar photovoltaic (PV) farms totalling 33.3 MW (43.7 MWp) in the region of Odessa.
The total investment in the two projects, which UDPR developed, is estimated to be EUR 30.6 million (USD 34.2m). Under the new agreement, Acciona will hold a 75% stake in the joint venture that owns the projects, while the remainder will be in the hands of the Ukrainian partner.
Both solar farms, the 19.8-MW Gudzovka and the 13.5-MW Arcyz, will operate under a power purchase agreement (PPA) with Ukrainian state-owned utility Energorynok until December 31, 2029. When the PPA expires, Acciona will sell their output under a price system established by the Ukrainian market.
The partners will initiate the construction this week to have the installation ready by the end of the year. Once in operation, the two farms are expected to generate around 55 GWh annually which is enough to meet the consumption needs of over 23,000 local households.
(EUR 1.0 = USD 1.12)