20:37 08.10.2024

Epicenter co-owner: Risk for investments in gas piston power stations is price of gas

2 min read
Epicenter co-owner: Risk for investments in gas piston power stations is price of gas

The Epicenter Group of Companies intends to direct significant investments, about $ 100 million, to the construction of gas piston power stations, but their efficiency will significantly depend on the cost of natural gas, co-owner of the group Halyna Hereha told Interfax-Ukraine.

"Efficiency will be at a cost of 1,000 cubic meters of gas no more than UAH 18,000. If this cost grows, then the saving effect will be small," she said on the sidelines of the forum "Dialogues with NV about the Future. Business and War" held recently in Kyiv.

Hereha said another problem is the lack of preferential loans that were promised by the government for the construction of generating capacities.

"We were promised preferential loans from high tribunes, and they addressed the population, addressed businesses: let's go forward. We went forward: today there are no preferential loans, no loans at all, which the bankers promised us," she said at the forum.

Hereha told Interfax-Ukraine that Epicenter failed to receive any loans under the government program Affordable Loans 5-7-9%, but even outside of it, all major banks offer the company conditions that cannot be called preferential.

According to her, the availability of affordable financing would allow Epicenter to implement its plans for the construction of power generating capacities much faster.

The group's co-owner said the company currently uses combined methods of providing electricity, in particular, Epicenter imports part of it, solar power plants are installed on the roofs of construction centers, which already provide up to 30% of the need at the installation sites, and diesel generators are also used.

She also said the cost of kWh of electricity from diesel generators is the highest.

According to the Ukrainian Energy Exchange, gas for delivery in November is currently quoted at an average price of UAH 14,650 per 1,000 cubic meters, while in October it was UAH 14,410 per 1,000 cubic meters.

The Epicenter Group of Companies is an omnichannel ecosystem that unites the Epicenter and Nova Liniya retail chains, the epicentrk.ua online store, the Epicenter-Agro agricultural holding, the Epicenter Ceramic Corporation ceramic tile factories, the Osmoloda woodworking enterprise, and logistics facilities.

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