UDP Renewables, an investment and development company in the field of renewable energy, has created a consortium with Qatari energy company Nebras Power with plans to invest about $ 250 million in “green” energy in Ukraine in 2021-2022, UDP Renewables CEO Serhiy Yevtushenko said.
Yevtushenko said Nebras, a state-owned company, would buy control of six solar stations. Later plans would focus on wind farms with capacity to provide for the needs of about 310,000 households.
Contracts between UDP Renewables and Nebras Power were signed during Ukrainian President Volodymyr Zelensky’s visit to Qatar this week.
Also during Zelensky’s visit to the Gulf state, Ukraine and Qatar signed a memorandum of understanding on supplying gas to Kyiv and helping the ex-Soviet state with gas exploration and infrastructure.
Qatar has the third largest gas reserves in the world behind Russia and Iran and is the world’s largest producer of liquefied natural gas.
The Gulf state proposed sending gas to Ukraine either by pipeline through LNG terminals now in operation in Croatia and Greece, or directly in the form of LNG through Turkey’s proposed Istanbul Canal. Qatar would also offer its expertise in exploration of Ukraine’s shelf gas deposits and invest in infrastructure.