Investments in the company’s third solar power plant amounted to over $10.1 million.

Kyiv, 1 March 2019. –UDP Renewables, which develops the projects of UFuture Investment Group in the field of renewable energy, launched its new photovoltaic power plant Scythia Solar-1 with 13 MW of peak capacity. The new facility occupies land area of 23 ha in Zaporizhia region where solar activity is high. The plant consists of 38,232 solar panels produced by JinkoSolar, the global leader in solar energy. It will allow to generate nearly 16.2 GWh per year that enables to power over 6,500 Ukrainian households.

“Renewable energy is one of our top priorities. By the end of 2019, we plan to build five more solar power plants with total capacity of more than 130 МW. I believe that Ukraine has very good business prospects in this field. We, on our part, seek to bring the world’s best experience and foreign investments to make the development of green energy in our country more efficient”, emphasized Vasyl Khmelnytsky, Founder of UFuture Investment Group.

“UDP Renewables continues to successfully implement its ambitious strategy in the field of renewable energy. Scythia Solar-1 is our third project. I would like to mention that this is only the first phase of the project, which we plan to complete in the end of 2019. It is one more great example of effective cooperation between our general contractor, highly qualified specialists, financial partners, and suppliers. I am grateful to all of them for their valuable contribution in overcoming complex professional challenges”, said Serhiy Yevtushenko, Managing Partner of UDP Renewables.

While constructing its third SPP, UDP Renewables traditionally put strong emphasis on cooperation with local equipment manufacturers and providers of respective services, which allowed to create 153 new jobs. The total amount of taxes paid to budgets of different levels during the construction of the power plant is about 29.7millionUAH. EPC contractor is a Ukrainian group of companies KNESS. Financial partner of the project is UKRGASBANK.

ADDITIONAL INFORMATION

UFuture is a Ukrainian private equity firm and group of companies, based in Kyiv. UFuture consolidates UDP, which is a real estate development company specialized in large infrastructure projects, the country's second biggest Kyiv Sikorsky international airport, national Ukrainian outdoor advertising operator RTM, and Bila Tserkva industrial park. The group develops new and innovative businesses such as renewable energy generator UDP Renewables, pharmaceutical producer Biopharma, and innovation parks UNIT.City and LvivTech.City. UFuture supports and coordinates numerous impact and sustainability projects related to education and economics, some of which are annual Kyiv International Economic Forum, Small and Medium Entrepreneurship School, cutting-edge IT coding school UNIT Factory and Lean Institute Ukraine.

UDP Renewables, headquartered in Kyiv, is an investment and development company in the Ukrainian renewable energy sector. The company exercises operational control over the Dymerska Solar Power Plant (Kyiv region) with a capacity of 6 MW, the Free Energy Genichesk Photovoltaic Power Plant (Kherson region) with a capacity of 18.3 MW and Scythia Solar-1 Solar Power Plant (Zaporizzhia region) with a capacity of 13 MW.