How Pro-Energy and its international partners delivered a 9 MW solar power plant in Ukraine

In 2019, investment in renewable energy in Ukraine looked promising but also required a willingness to operate in a high-risk environment. It was then that Pro-Energy, together with its Norwegian partners, began implementing a 9 MW solar power plant project in the Kyiv region. To finance the project, a €4.35 million loan was secured from the international financial organisation Nefco, with shareholders contributing an equal amount as equity capital.

Today, this project serves as an example of how, even in the midst of a full-scale war, international investors can operate successfully in Ukraine provided they have a strong local partner. Furthermore, the early repayment of the Nefco loan has confirmed the effectiveness of the chosen model of cooperation.

A project that has brought together international capital and Ukrainian expertise

Pro-Energy’s partner in the project was the Norwegian company Norsk Renewables (known as Norsk Solar at the time the project began), which was seeking opportunities to develop solar power generation in Ukraine. A key factor in the project’s success was the collaboration between the international investor, the financial institution, and the Ukrainian team, which had a thorough understanding of local conditions.

Pro-Energy became a shareholder in the project with a 30% stake and took on the role of Ukrainian development partner. The team was responsible for implementing the project at a local level, as well as for the development and subsequent management of the property.

It is at this stage that the true value of a local partner becomes apparent. For international investors, it is important not only to identify a promising project, but also to secure a team capable of delivering it in accordance with the requirements of financial institutions, international standards, and Ukrainian legislation.

From idea to launch

Construction of the station was completed at the end of 2019, and by the summer of 2020, the facility had commenced commercial operations and electricity generation.

For Pro-Energy, this project served as proof that Ukrainian companies can be not just contractors, but fully-fledged investment partners for international players.

The implementation of the project required the comprehensive coordination of numerous processes: from liaising with landowners and government bodies to working with network operators, technical consultants, and financial partners.

War as a test for the whole team

In February 2022, the full-scale invasion radically altered operating conditions for the entire energy sector in Ukraine. Plant owners and operators were faced with new challenges:

• risks to staff;
• instability of the power system;
• disruption of supply chains;
• difficulties with the supply of equipment and spare parts;
• uncertainty in the energy market.

In such circumstances, it has become crucial to ensure the facility continues to operate without interruption.

As Ruslan Delidon, Director of Pro-Energy, notes:

“Managing an energy asset during wartime required constant adaptation. We had to ensure uninterrupted technical operations and staff safety, maintain communication with contractors and the grid operator, and respond swiftly to changes in the security situation and energy market conditions.”

It was this period that proved to be the ultimate test of the effectiveness of the partnership model, in which an international investor, a financial institution, and a local team worked as a single unit.

Result: over 43 GWh of green energy and early repayment of the loan

Despite all the challenges, the project has demonstrated a high degree of technical and financial resilience.

Since it began commercial operation, the plant has generated over 43 GWh of electricity from renewable sources. Furthermore, the plant’s operation has helped reduce greenhouse gas emissions by more than 34,000 tonnes of CO₂ equivalent.

One of the key achievements was the full and early repayment of the €4.35 million loan from Nefco.

For investors, this served as confirmation of the project’s financial viability even in the midst of war. For Pro-Energy, it was proof that the Ukrainian team is capable not only of delivering complex energy projects but also of managing them effectively throughout their entire lifecycle.

What does this project mean for Pro-Energy?

For our team, this project has become much more than just the construction of a solar power station.

It has demonstrated our ability to work with international financial institutions, attract foreign investors, and deliver projects in accordance with high international standards.

Today, Pro-Energy supports projects in the fields of biogas, biomethane, cogeneration, energy efficiency, and renewable energy — from the initial concept and feasibility study through to commissioning and subsequent asset management.

The story of the 9 MW solar power plant serves as further proof that Ukraine remains a promising market for investment in renewable energy, and that the success of such projects is based on a combination of international capital and strong local expertise.

It is precisely such partnerships that lay the foundations for the recovery and modernisation of Ukraine’s energy sector.

Are you planning your own energy project?

Pro-Energy supports projects in the fields of renewable energy, biogas, biomethane, cogeneration, and energy efficiency — from the initial assessment of the concept through to commissioning and subsequent asset management.

If you are considering investing in an energy project or are looking for a reliable partner to help bring it to fruition, please contact the Pro-Energy team for advice.