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CMEC provides EUR 134 million supplier's credit for 246 MW Nikopol Solar Power Plant Construction Project
| Funder | China Machinery Engineering Corporation (CMEC) |
|---|---|
| Recipient Organization | Donbas Fuel and Energy Company (DTEK) |
| Country | Ukraine |
| Start Date | Apr 01, 2018 |
| End Date | Dec 26, 2030 |
| Duration | 4,652 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 66100 |
Grant Description
CMEC provides EUR 134 million supplier's credit for 246 MW Nikopol Solar Power Plant Construction Project In April 2018, China Machinery Engineering Corporation (CMEC), a state-owned subsidiary of Sinomach, and Donbas Fuel and Energy Company (DTEK), a privately held Ukrainian power company, signed an supplier’s credit (loan) agreement worth EUR 134 million (UAH 4,306,000,000) for the 246 MW Nikopol Solar Power Plant Construction Project.
The borrower also purchased a credit insurance policy from Sinosure.
The proceeds of the loan were to be used by the borrower to finance an EUR 170 million commercial contract that CMEC and DTEK signed in April 2018.
The purpose of the project was to construct the 246 MW Nikopol Solar power plant (Нікопольська сонячна електростанція) in the central Dnipropetrovsk region of Ukraine. CMEC was the general Engineering, Procurement, and Construction (EPC) contractor. However, multiple Chinese subcontractors were involved in the implementation of the project.
Seraphim Solar and Trina Solar were selected as suppliers of solar panels. KSTAR was selected to supply inverter substations. Xian Electric Engineering was selected to supply transformers (all of them are Chinese companies). Construction of the solar power plant started in April 2018 and was completed in March 2019.
The power plant has been generating green electricity since March 1, 2019.
The resulting reduction of CO2 emissions is expected to reach 300,000 tons a year while electricity generation will reach 280 million kWh.
Staff Comments
- This project is also known as the 200 MW Nikopolska SPP. The Chinese project title is 乌克兰尼科波尔246MW光伏项目. The Ukrainian project title is Нікопольська сонячна електростанція.
- Some sources suggest that the supplier’s credit from CMEC may have been itself financed by China Eximbank (through an export seller’s credit to CMEC). This issue warrants further investigation.
Sources & References
- Chinese projects in Ukraine
- DTEK RAISES EUR 90 MLN FROM GERMAN BANKS TO BUILD 100 MW WIND FARM
- Chinese company to build solar power plant in Ukraine
- Ukraine's DTEK
- China's CMEC to build one of Europe's largest solar projects
- CMEC signs EUR170m Ukraine PV power plant project contract
- Chinese company to build solar power plant in Ukraine
- PrintShare DTEK
- CMEC to build Ukraine’s largest solar power plant
- DTEK raised 90mIN from German Banks to Build 100mw ind farm
- Ukraine’s largest solar project completed with Chinese partners
- Chinese
- Ukrainian firms launch construction of solar plant in Ukraine
- UKRAINIAN DTEK BUILDS LARGEST SOLAR POWER PLANT IN EUROPE
- Seraphim provides 246MW of high-efficiency modules for Ukraine's largest photovoltaic power plant
- DTEK officially launches Ukraine's largest Nikopol solar plant
- Chinese
- Ukrainian firms open major solar plant in Ukraine
- Solar Power Plant Powers up in Ukraine
- DTEK Integrated Report 2017
- DTEK group
- CMEC Annual Report 2018
- INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2019
- Asters advises CMEC on signing a EUR 230 million contract with DTEK to build a 200 MW solar plant in Ukraine
- DTEK starts construction of the largest solar power plant in Ukraine
- Asters Advises CMEC on Signing Solar Plant Contract in Ukraine, 40-Year Amazing Development Underpins New Glories
- Nikopol Solar Power Plant
- DTEK Integrated report 2018: Financial and Non-Financial Results
- Ukraine’s largest solar project completed with Chinese partners
- CMEC签署乌克兰尼科波尔246MW光伏项目商务合同
- CMEC签署乌克兰尼科波尔246MW光伏项目商务合同
- 中国机械设备工程股份签订乌克兰尼科波尔246MW光伏电站合同
- China Machinery Engineering Corporation 2018 Social Responsibility Report
- DTEK attracted EUR 90 million in foreign investments for the construction of Primorskaya Wind Electricity Plant
- DTEK attracted EUR 90 million of investments for the construction of the Primorsky wind power plant Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Donbas Fuel and Energy Company (DTEK)
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