A vital step forward for renewable energy in Ukraine, the Cypriot-owned OKKO Group, through its parent entity GNG Retail Limited, has received approval from the Antimonopoly Committee to acquire Wind Power GSI Volyn and Wind Power GSI Volyn 3. This move will set the stage for the development of a new 150 MW wind power plant in the Volodymyr district of the Volyn region.
OKKO’s strategic investment in wind energy is set to solidify its position as a leading player in the Ukrainian renewable sector. Beyond wind energy, OKKO is exploring opportunities for investment in solar power plants.
According to company details, Wind Power GSI Volyn and its affiliate Wind Power GSI are associated with the Greenville Energy group under the Greenville venture corporate investment fund’s portfolio.
Moreover, even amidst the ongoing conflict, the Lviv region has seen the launch of a significant renewable energy project. A new €54M wind power plant with a capacity of 54 MW has begun operations in the Truskavetsk community. Predicted financial benefits from this venture suggest an impressive ₴2M in budget revenues within its initial year.
FAQ About Ukraine’s Renewable Energy Initiatives
- Who is behind the new 150 MW wind farm project in Ukraine?
GNG Retail Limited, which owns the Ukrainian OKKO Group, is acquiring Wind Power GSI Volyn and Wind Power GSI Volyn 3 to undertake the project. - Where will the 150 MW wind power plant be located?
The plant is set to be built in the Volodymyr district of the Volyn region. - What other renewable energy investments are OKKO Group considering?
OKKO Group is also looking into the acquisition of solar power plants as part of its strategy to expand its renewable energy portfolio. - Has the ongoing conflict in Ukraine affected renewable energy projects?
Despite the war, renewable energy projects like the €54M wind power plant in the Lviv region are still being developed and operated.
Conclusion
The authorization granted to GNG Retail Limited for the acquisition of wind power projects marks a significant milestone in Ukraine’s push towards renewable energy, indicating strong progress even in challenging circumstances. With the imminent development of a 150 MW wind farm and ongoing interest in solar energy, OKKO Group is working to ensure a sustainable and energy-secure future for the country. The success of similar projects, such as the recently operational 54 MW wind power plant in Lviv, demonstrates the potential for renewable energy as both an economic boon and a resilient energy source for Ukraine.