14:37 06.04.2021

UDP Renewables and Qatar's Nebras Power sign agreement on investment in RES generation

2 min read
UDP Renewables and Qatar's Nebras Power sign agreement on investment in RES generation

Nebras Power is announcing its entry into the Ukrainian electricity market with the acquisition of six solar projects and a partnership agreement with UDP Renewables, Nebras Power reported on Twitter.

According to a report on the website of the president of Ukraine, UDP Renewables investment and development company and the Qatari state-owned company Nebras Power have signed an agreement to invest in "green" generation facilities, the construction of which is scheduled for 2021-2022.

According to the agreements reached, Nebras Power becomes the owner of a controlling stake in a number of solar power plant operators.

The signing of the agreement will contribute to deepening cooperation between Ukraine and the State of Qatar in the field of foreign investment and the development of renewable energy sources, an innovative economy and environmental protection, the President's Office noted.

As reported, at the end of January, the Antimonopoly Committee of Ukraine (AMCU) authorized Nebras Power Investment Management B.V. (the Netherlands), a member of the Qatar group Nebras, to receive 50% or more in six companies operating solar and wind power plants of businessman Vasyl Khmelnytsky and his partners.

According to the committee, the matter concerns 50% in Volyn West Wind-1 LLC and Volyn West Wind-2 LLC, as well as more than 50% in Free Energy Henichesk LLC, Scythia-Solar-1 LLC, Scythia-Solar-2 LLC and Port Solar LLC.

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