Kyivstar announced that it is starting to invest in the alternative energy sector and announced the acquisition of 100% of the corporate rights of LLC «SANVIN 11» — the owner of an operating solar power plant in the Zhytomyr region.
Kyivstar announced that it is starting to invest in the alternative energy sector and announced the acquisition of 100% of the corporate rights of LLC «SANVIN 11» — the owner of an operating solar power plant in the Zhytomyr region.
According to the company’s press service, the solar power plant is capable of producing electricity that covers about 4% of Kyivstar’s annual consumption.
The capacity of the facility is 12,947 MW, and the value of the transaction was UAH 347.57 million.
«Investing in renewable energy is a strategic step that will increase the reliability of our network. We strive to implement solutions that make our services energy independent and at the same time contribute to the development of the country’s energy potential,» said Kyivstar CEO Oleksandr Komarov.
The company adds that such an investment opens a new strategic direction for Kyivstar — the development of its own generating capacities, and will allow diversifying energy sources and reducing operational risks associated with the instability of energy supply.
«The electricity generated by the solar power plant will be supplied to the unified power system of Ukraine in accordance with current market and regulatory rules, which will allow Kyivstar to partially hedge the risks associated with fluctuations in electricity prices,» the company explained.
As dev.ua wrote in early November, Kyivstar is preparing its first acquisition in renewable energy: the mobile operator plans to buy Sanvin 11 LLC, which operates a solar power plant in the Zhytomyr region.
It was reported then that on September 23, Kyivstar submitted an application to the Antimonopoly Committee of Ukraine to acquire Sanvin 11.
