Solar Power Plants
STEM Capital — turnkey investment projects in the areas of solar energy
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Sector Overview
Solar energy in Ukraine has great potential. From 2018 to 2020, solar energy capacity increased almost fivefold. As of 2024, solar power plants in Ukraine will account for about 75% of the production of “green” energy (excluding large hydroelectric power plants).
Insolation in Ukraine varies from 1,100 to 1,500 kWh/m², which makes the entire territory of the country suitable for the location of solar power plants. The potential for solar electricity generation is 730 billion kWh per year.
Opportunities
Low prices for buying and renting land
- In 2023, a hectare of land in Ukraine cost an average of $977
Possibility of exporting electricity to EU countries
- NPC “Ukrenergo” is a full member of ETSO-E in the EU, which gives the opportunity to export electricity to neighboring countries
Favorable geographical location
- Theoretically possible solar energy potential in Ukraine is 730 billion kWh per year
Cost of a hectare of land:
Ukraine has a total of 60.3 million hectares of land. According to Forbes Ukraine, in February 2023, a hectare of land cost an average of $977.
For comparison, prices in EU countries:
Ukraine
$977
Poland
$15 000
Germany
$35 000
Netherlands
$80 000
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On December 14, 2023, NEC “Ukrenergo” received full membership in the European Network of Transmission System Operators ENTSO-E
This opened up opportunities for owners of solar power plants to supply electricity to neighboring European countries at a favorable price.
Most of SNP Invest’s projects are located in Western Ukraine, including the Ivano-Frankivsk region, so we have created a map showing the distances from the Ivano-Frankivsk region to neighboring countries in Europe. It is worth noting that the distances to the capitals of Poland and Hungary are shorter than to the capital of Ukraine – Kyiv.
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Favorable geographical location for solar energy development.
According to the State Agency for Energy Efficiency and Energy Saving of Ukraine, the theoretically possible potential of solar energy in Ukraine is over 730 billion kWh per year, and the technically possible potential is limited to 34.2 billion kWh per year.
The map shows the distribution of solar radiation on the territory of Ukraine for the case of the orientation of solar modules to the south at an optimal inclination angle to the surface of the earth. It should be noted that the average annual solar energy potential in Ukraine is relatively high – 1235 kWh/m². For comparison, in Germany, this figure is 1000 kWh/m² and in Poland – 1080 kWh/m².
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According to the State Agency for Energy Efficiency and Energy Saving of Ukraine, the theoretically possible potential of solar energy in Ukraine is over 730 billion kWh per year, the technically possible potential is limited to 34.2 billion kWh per year. Renewable technologies can cover up to 80% of electricity needs, taking into account the current level of technology development.
Risks
Ukraine has 60.3 million hectares of land, of which 42.7 million hectares are agricultural land (70% of the territory). Power plants are not built on these lands due to their purpose for agricultural business.
Due to military operations in eastern Ukraine, most new plants are being built in the central and western regions of the country. They are considered safe for installing large capacities and connecting solar plants to the grid.
STEM Capital is your reliable partner in the energy sector
We support the investor at every stage of project development. We specialize in all aspects of energy construction, including contractual support, design, installation, and operation.
Our experienced team of engineers, managers, and consultants works closely with partners to ensure timely project implementation within budget and by the highest quality standards.
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