Fruitful Cooperation between Ukrainian Energy Giant DTEK and Chinese CMEC: New Solar Development

It seems like the tandem of Ukrainian DTEK and Chinese CMEC will soon reveal the results of their hard work in the form of a new solar power station in Nikopol town in Ukraine! Let’s consider a few details of such great news.

DTEK holding together with China Machinery Engineering Corporation have signed up an agreement according to which both parties are obliged to design and build a 200MW solar power station in Dnipropetrovsk region.

Solar Power Station in Nikopol as One of the Largest in Europe

This significant event has taken place within the roundtable discussion titled “Chinese investment in the energy industry of Ukraine” organized by the members of SilkLink association. After all construction works done, they expect this development to win the title as of the third largest solar stations in Europe.

As informed by General Manager of DTEK Serhii Tymchenko, they are extremely pleased to win such investor as China Machinery Engineering Corporation because Chinese company is universally acknowledged as one of the leading contractors of power-producing solutions in the world and the amount of the implemented projects exceeds 5000MW in one hundred fifty countries.

Expected Profit to Receive from the Project

The new solar power station is planned to be located near Nikopol town on the territory of a depleted pit where the lands are completely invalid for farming. The ecological effect of the project consists of the CO2 exhaust reducing in the amount of three hundred thousand tons.

“Eco” solar energy produced by the station in Nikopol makes up more than three hundred million KWh yearly that ensures energy consumption of one hundred thousand households. Moreover, due to a new solar station, the region will receive dozens of new job vacations that positively influences the region’s infrastructure.

The solar power station in Nikopol will become the most significant deal to involve potential investors in the funding of renewable energy in Ukraine.

China is considered the world leader of investments in the energy sphere. CMEC has already built a few grandiose projects including those in helioenergetics, so the partnership between DTEK and CMEC is highly appreciated as it may serve as a reagent for the development of Ukrainian economics. Additionally, this fruitful cooperation will become a role model concerning Ukrainian-Chinese team play.

As it was officially reported on the corporate site of China Machinery Engineering Corporation, the Chinese side is ready to provide, support, and promote all the ambitious Chinese-Ukrainian ideas that have all the chances to develop into proficient business projects.

How About the Financial Side?

Both companies don’t comment on any details concerning the financing of this development, but they noted the design of a solar power station requires investments as of millions of euros.

By the way, DTEK team is currently interested in technologies developed by CMEC to reconstruct coal-fired power divisions, so we hope that the solar solution in Nikopol is just the beginning!