Scatec Solar ASA started construction of the 148-MW Progressovka solar project in Ukraine.
The project is estimated to cost €124 million. PowerChina Guizhou Engineering Co. Ltd. is providing a two-year construction financing facility, which covers 65% of the capital expenditure for the project. It is also providing engineering procurement and construction services.
Scatec Solar will be the equity investor and it will also provide engineering procurement and construction management, operation and maintenance as well as asset management services. The company said June 3 that it is in the advanced stages of securing long-term debt financing and equity partner for the Progressovka project.
The project will be realized under Ukraine's 10-year feed-in tariff scheme. The plant is expected to begin commercial operations in the first half of 2020.