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Scatec Solar initiates commercial operation of 47-MW plant in Ukraine

The Rengy solar park in Ukraine. Source: Scatec Solar

August 30 (Renewables Now) - Norway’s Scatec Solar ASA (OSL:SSO) said on Thursday that, alongside partner Rengy Development, it has hooked to the grid the 47-MW Rengy solar power plant in the south of Ukraine.

Thus, the project has started commercial operations 13 months after the partners secured it, according to the announcement. It was realised under Ukraine’s fixed Feed-in-Tariff (FiT) scheme until 2030.

The Rengy solar project achieved financial close in December, when the European Bank for Reconstruction and Development (EBRD) and the Black Sea Trade and Development Bank (BSTDB) agreed to provide EUR 36 million (USD 39.7m) of non-recourse debt financing. The total cost of the project amounts to EUR 52 million, Scatec Solar said at the time.

“The solar power plant will deliver clean energy to around 15,000 households and contribute to avoid about 51,000 tonnes of carbon emissions per year, supporting Ukraine’s renewable energy target,” stated Raymond Carlsen, CEO of Scatec Solar.

(EUR 1.0 = USD 1.104)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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