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Friday, 29.03.2024, 10:09
Lithuania's Modus Group to invest EUR 30 miln into 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.