Page 71 - UKRRptDec19

expansion.”
9.1.10 ​Renewables corporate news
DTEK​ rushed construction to take advantage of ‘green tariffs’ and tax breaks on imports of wind and solar equipment. ​“We have already invested more than 1bn euros in the construction of 1 GW of solar and wind power plants,” said Maksim Timchenko, DTEK CEO. With Friday’s inauguration of the Primorska, or ‘Seaside’, DTEK now has 500 MW of wind power capacity. With Thursday’s inauguration of the Pokrovska solar power plant, DTEK has 450 MW of solar power in southern Ukraine.
One year after construction started,​ ​DTEK​ inaugurated on October 30 a 100 MW wind power plant in southern Zaporizhia Oblast​, completing the €321mn, 200 MW Primorsk project. Marching across farmland on north shore of the Azov, 26 steel towers, each topped with a GE wind turbine, stand taller than Kyiv’s Motherland statue. Foundations for each tower go down 16-24 meters, below than the average 14-meter depth of the nearby Azov.
With the inauguration Friday of a 100 MW wind power plant on the wind blown north coast of the Sea of Azov, DTEK has reached its goal of investing €1bn ​to create nearly 1 gigawatt of renewable energy capacity in Ukraine by the end of this year. DTEK now has 500 MW of wind power, all on the north coast of the Azov: Orlivka – 100 MW; Primorska - 200 MW; and Botievska – 200 MW. In Zaporizhia and adjoining Dnipropetrovsk regions, DTEK has three solar stations: Nikopolska - 200 MW; Pokrovska –240MW ; and Tryfanovska -- 10 MW. “We have invested more than €1bn euros in the renewable energy sector of Ukraine,” says Maxim Timchenko, DTEK CEO. “We are confident that Ukraine can become a leader of decarbonization in Europe, providing our country with homegrown clean energy.”
En+ is in the process of selling its coal business ​(coal-fired CHPs with a total installed capacity of 3.8 GW and coal mines supplying the CHPs with fuel), which is controlled by Irkutskenergo, Kommersant writes today. The newspaper put the value of the business at R25 bln, indicating that SGK, InterRAO and Gazprom Energoholding were potential bidders.
9.2.11 ​Metallurgy & mining corporate news
● Metinvest
Metinvest prepares for prolonged industry downturn​ ​Ukraine’s largest steel producer Metinvest (METINV) is planning to cut its CapEx and fixed costs, including some administrative personnel and staff at its management company, the Interfax-Ukraine news agency reported on November 21, citing the holding as its source.​ ​Metinvest sees the global steel industry entering the worst crisis in ten years and has a dismal outlook for steel prices, which prompted the holding to develop an action plan for the difficult economic situation, Interfax-Ukraine said.​ ​In particular, Metinvest will cut its 2019 investment program, maintaining only its critical strategic investments and projects with significant ecological effects. The holding will also pause non-critical hiring and cut up to 30% of its administrative staff in 2020. Metinvest underlined that the steel industry is cyclical and therefore the holding views the current crisis as temporary, Interfax-Ukraine reported.
71​ UKRAINE Country Report​ December 201 ​ ​www.intellinews.com