Renewables

CWP Global enters Ukrainian market with acquisition of 73 MW wind project

Kiev_web

Photo: Balkan Green Energy News

Published

September 7, 2021

Country

Comments

0

Share

Published:

September 7, 2021

Country:

Comments:

0

Share

International energy infrastructure development company CWP Global has acquired a 73 MW onshore wind project under development in Ukraine, entering one of Europe’s largest energy markets, which seeks to replace its ageing fossil fuel-based and nuclear capacities with low-cost, subsidy-free renewable energy.

The construction of the wind farm, located in the Kherson region of southern Ukraine, will cost EUR 76 million and is expected to begin in 2023, according to a press release from CWP Global. The project will create 360 jobs.

GWP Global will invest EUR 76 million in the wind project in Ukraine and create 360 jobs

The company has developed nearly 2,000 MW of renewable energy projects in Australia and the Southeast Europe region, including Europe’s largest operational onshore wind farm and the biggest wind projects in Romania and Serbia. It has an ambitious plan for Ukraine, where the share of renewables in energy generation stood at just 4% in 2015 but is projected to grow to up to 25% over the next decade.

This forecast by the International Energy Agency (IEA) is consistent with Ukraine’s new Energy Strategy (ESU) that focuses on attracting investment to develop the country’s energy infrastructure and integrate it into the European market system by 2025, GWP Global said in the press release.

Ukraine could become major hub for hydrogen export to Western Europe

CWP Global also believes that Ukraine is uniquely positioned to deliver large-scale renewables for the production of green hydrogen and its derivatives for export into the EU, where decarbonization efforts are driving demand for this clean fuel. The company is a global pioneer of large-scale hydrogen generation and one of the developers behind the 26 GW Asian Renewable Energy Hub.

According to the press release, CWP Global views Ukraine as a potential continent-scale production hub to generate and export hydrogen to western European countries.

The decarbonization drive will soon dramatically increase demand for green hydrogen in Western Europe

“Western European markets are rapidly increasing demand for green electricity and will soon dramatically increase demand for green hydrogen, all due to the drive to decarbonize the energy sector. Given Ukraine’s important renewable energy potential, and because of its proximity to this growing market, it was the obvious choice for CWP Global to invest in Ukraine,” said Mark Crandall, Chairman at CWP Global.

CWP Global plans to expand its portfolio in Ukraine with further large-scale grid-connected and Power-to-X projects, and is actively looking for new opportunities, the company said.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Romanian heating plant 80 MW solar park green hydrogen gas

Romanian heating plant to build 80 MW solar park, mix green hydrogen into gas

05 July 2022 - Romania's Oradea city is pushing ahead with decarbonization by launching integrated projects for solar power and green hydrogen

Turkish entity Cyprus energy water deal government Nicosia

Turkish entity in Cyprus offers energy, water deal to government in Nicosia

05 July 2022 - Cypriot Turkish leader Ersin Tatar offered the Republic of Cyprus a deal on hydrocarbons, electricity, renewables and water, but under a two-state solution

offshore wind

Hellenic Petroleum, RWE to develop offshore wind projects in Greece

05 July 2022 - RWE and Hellenic Petroleum joined forces to explore offshore wind opportunities in Greek waters. The country is targeting 2 GW in total by 2030.

What’s new in Federation of BiH ’s draft law on renewables auctions

What’s new in Federation of BiH’s draft law on renewables?

04 July 2022 - It introduces auctions for the allocation of feed-in tariffs and feed-in premiums for renewable power plants