July 4 (Renewables Now) - Norway’s Scatec Solar ASA (OSL:SSO) has partnered with fellow solar developer Rengy Development to realise three photovoltaic (PV) projects in Ukraine with a combined capacity of 47 MW.
Scatec Solar has agreed to take a 51% stake in the projects, leaving 49% for its partner. Together, they will build three solar power plants on leased public land in the southern region of Mykolaiv. The solar parks will receive support under a 10-year feed-in tariff (FiT) scheme.
The pair estimates the total cost of the three projects at about EUR 52 million (USD 60.5m). Scatec Solar noted that the project finance process has already been initiated and that the European Bank of Reconstruction and Development (EBRD) is leading it. The company expects financial close the be achieved and construction work to start later this year.
Once completed in 2019, the three solar parks will be generating some 58 GWh of electricity per year. Scatec Solar will operate and maintain the facilities once they go online.
Including those projects, Scatec Solar now has 130 MW under the FiT scheme in Ukraine.
(EUR 1.0 = USD 1.164)