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International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 18:06

Lithuania's Modus Group to invest EUR 30 miln into solar power park in Ukraine

BC, Vilniaus, 14.08.2018.Print version
Lithuania's Modus Group, uniting companies engaged in car trade, real estate and energy, is investing 30 million euros into a new solar power park in Ukraine.

Green Genius and Modus Energy International, part of Modus Group, will implement the 35MW project, the group said.


"We are constantly looking for opportunities to invest into solar power projects across Europe. Countries which are only starting to actively develop their renewable energy sectors are the most favorable markets for that at the moment," Ruslanas Sklepovic, a board member of Modus Group, said in a statement.


The group has implemented similar projects in Lithuania and Belarus and is implementing new projects in Spain and Poland.


The new solar power park will be installed in Ukraine's Zhitomir region by the second half of 2019 and will produce 45,000 MWh of power a year.


Ukraine has set special feed-in tariffs for solar energy and the state buys electricity for them.


Last year, solar power plants with a total capacity of 300 MW were installed in Ukraine, and another 180 MW were added in the first six months of this year, bringing the total capacity of solar power plants in the country to 841 MW.


Renewable energy projects in Ukraine are funded by the European Bank of Reconstruction and Development and the World Bank.

 






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