Elementum Energy acquires and will develop 200 MW project in western Ukraine – top manager
Elementum Energy, a subsidiary of VR Capital Group operating in the wind energy sector, acquired a 200 MW wind power project in western Ukraine and plans to prepare it for construction at the end of next year, said its managing director, member of the board of the Ukrainian Wind Energy Association (UWEA) Olha Rybachuk.
"Elementum Energy has acquired a project for an additional 200 MW of wind in western Ukraine, at the intersection of Ternopil, Rivne and Lviv regions. And we are very happy about this, because this is a project that is at a fairly advanced stage of development, and it should be ready for construction at the end of next year," Rybachuk said at a UWEA press conference at the Interfax-Ukraine agency on Thursday.
She specified that the acquisition process was completed on December 11.
According to her, this project should provide electricity to approximately 600,000 consumers.
"We believe that this will be a very large and powerful support for the Ukrainian energy system," Rybachuk noted.
The Elementum Energy managing director also added that the company is currently developing a project for wind farms with a capacity of over 200 MW in different parts of Odesa region, which will be ready for construction next year, one of which is planned to be ready at the end of the first quarter.
As reported, Elementum Energy, a subsidiary of VR Capital Group, owns, in particular, Dnistrovska Wind Farm of 100 MW in Odesa region, the second 60 MW stage of which was commissioned during the war - in 2023.
VR Capital Group considered its possible participation in the auctions of NEC Ukrenergo for the construction of new generating capacity to balance the energy system, but abandoned this idea due to uncertainty about the guaranteed payment for services, its founder Richard Deitz said at the Forbes "Energy of Business" conference on October 10.
"You need to have guarantees to get your money back. And it is difficult to model the behavior of the state," Deitz noted.
VR Capital is an international firm with approximately $ 5 billion in investor assets managed through pooled funds.