Voltage Group to design and build a 9 MWp solar power plant in Ukraine for Norsk Solar, a Norwegian solar power plants developer
Norsk Solar AS has signed an EPC agreement with Voltage Group for 9 MWp solar power plant construction located close to Brovary in Semypolky Village, Kyiv Region in Ukraine. This is the first project to be developed by the Norsk Solar AS in Ukraine. A project financing structure is built with a NEFCO participation as a project co-financing party.
As has been informed by NEFCO in their official announcement on their web site, NEFCO has signed a EUR 4.35 million loan agreement and, in addition, the co-owners will contribute equity financing to the project in the total amount of EUR 4.35 million.
Norsk Solar AS is the main sponsor of the new plant and is working together with its partners Pro-Energy LLC and Windforce Ltd.
The project owner and majority equity contributor, Norsk Solar AS, is part of the Valinor group, with a total of 860 MW of commissioned renewable projects. This is the second solar power project for Norsk Solar AS, after Gharo Solar 50 MWp power project in Pakistan reached its financial close earlier this year.
Voltage Group has developed project design documentation and started construction works. It is expected that the plant will start to deliver to the grid at the end of 2019. Once the plant is in production, it will deliver 11,000 MWh annually.
“We have a great experience of cooperation with Norsk Solar SA in the solar power plant development project in Ukraine. We spent some time to reach the deal, but it was a great time needed to understand Norsk Solar SA requirements and strategy. Now the project construction is going well, in accordance with the time schedule approved. We have a very positive vision of further cooperation with Norsk Solar SA in project development in Ukraine and abroad”, says Dmytro Nechyporenko, Business Development and Strategy Director, Partner at Voltage Group.
“We estimate that it will provide more than 5,000 households with renewable energy over the next few decades. At Norsk Solar, our mission is to finance, build and operate solar parks globally and to work towards a cleaner and more sustainable future”, says Øyvind Vesterdal, CEO at Norsk Solar AS mentioned in the NEFCO web page official message.
About Norsk Solar
Norsk Solar AS is a Norwegian developer of solar power plants with a long-term Build-Own-Operate strategy. The company is a subsidiary of the Valinor, established in 1996. Valinor is Norway‘s largest private wind power producer, and an important contributor of renewable energy. The Valinor has several technology and energy companies in its portfolio, maintaining a disciplined focus on creating sustainable, ethical and clean energy for the future. Read more at www.norsksolar.com
About Voltage Group
Voltage Group is Ukrainian renewable energy projects Engineering Company and EPC contractor established in 2009. Read more at www.voltageg.com