Norwegian Investments into Wind-Driven Electric Power Stations Located in Ukraine

24/03/2019

In January 2019 Norway and Ukraine successfully signed quite an ambitious series of preliminary agreements concerning the involvement of around two billion US dollars of investment into Ukraine. It was officially announced that approximately one and a half billion is planned to spend on the financing of the projects dedicated to renewable energy. A specific focus is put on wind-driven electric power stations in Ukraine.

Promising Strategy of NBT in Ukraine

A Norwegian Company NBT is engaged in a vast development of wind-driven electric farms in emerging countries. The company located its key offices in Cyprus, Pakistan, Ukraine, and some other countries. The head office is situated in Oslo (Norway).

During the conference of the National Investment Council of Ukraine, held within the strategic World Economic Forum in Davos, the CEO of NBT Joar Viken gave an official commentary that their company is willing to increase the investment into the renewable energy industry in Ukraine.

NBT is ready to start constructing a few innovational wind-driven electric power stations with general power output as of 700-800 megawatt. This grandiose project will be implemented in the Ukrainian industrial city Zaporizhia.

Moreover, Joar Viken persuaded the audience that the company possesses the sufficient potential to build a few extra wind power supplies with 700-800 megawatt on the territory of Ukraine. Zaporizhia location is the great start of this powerful project.

The Norwegian “Wind” Plan: Why Ukraine?

It’s reasonably acknowledged that the whole territory of Ukraine has an extremely loyal tariff in terms of renewable energy. Moreover, Ukraine has excellent wind conditions for developing this industry successfully.

That is why the representatives of both countries (Syvashenergoprom LLC as the Ukrainian part) formulated a target to introduce approximately thirty percent renewable wind energy by 2035. In 2019 they have already brought about two percent of that.

Since 2018 Norwegian NBT and Ukrainian Syvashenergoprom LLC have been working in close partnership relations. The last operates three-megawatt wind energy farm and nowadays is working on a common wind project with the power as of 330 megawatts.

Both companies are planning to look for more opportunities on this market and enter a few more agreements concerning the development of other wind-driven power projects in Ukraine, but the content of future agreements is confidential for obvious reasons.

They predict that as far as this complex of wind-driven electric stations is implemented, it will deliver the received electric energy to the Ukrainian energetic system Ukrenergo. The amount of electric energy generated by means of wind-driven electric power stations will be enough to provide not less than fifty thousand households with electricity.

Wind Project in Zaporizhia: How Much?

The implementation of the first stage of the colossal project in Zaporizhia will require a solid investment in the sum as of three hundred seventy million euro. It is important to note that Ukrainian enterprises will participate in this process acting as subcontracting suppliers.

The CEO of Norwegian NBT Joar Viken told the press that 250-megawatt wind-driven electric power stations are just the beginning because over the next two or three years the partners are planning a significant portion of financial investments in a number of wind energy projects in Ukraine.

Inspiring Renewable Electricity Expectations of Ukraine

A series of agreements about the wind project in Zaporizhia between Ukraine and Norway is the first step in the global energetic strategy of Ukraine for the nearest future.

In accordance with the Energy Strategy adopted by the Ukrainian Government, by 2035, Ukraine will get a quarter of the total electricity from renewable sources. The nearest goal is set as of twelve percent by 2020.