Acciona SA invested about €30.6 million to build two solar facilities with a total capacity of 43.7 MW in Ukraine.
Under the agreement, Ukrainian company UDP Renewables will build the 26-MW Gudzovka and 17.7-MW Arcyz solar projects, Acciona said in a June 3 news release. The Spanish conglomerate owns a 75% stake in the projects.
Construction is set to begin the week of June 6 and is expected to be complete before the end of 2019. Upon completion, the two plants will generate about 55 GWh of emissions-free energy annually. The output will be sold under a power purchase agreement to Ukrainian utility company Energorynok State Enterprise through the end of 2029.
Acconia previously completed the 57.2-MW Dymerka 2-3-4 photovoltaic complex in Ukraine, which it owns fully.