Gundych and Merkel Discussed Construction of Solar Power Plant in Lugyny District

Chairman of Zhytomyr Regional State Administration Igor Gundych met representatives of Altostrata Energy LLC on the implementation of the investment project on the construction of a photovoltaic station in Luhyny district.

The meeting was held on November 13, with the participation of Director General of Altostrata Energy LLC Torsten Merkel, Project Director of Altostrata Energy LLC Andrii Baranochnik and Director of Solar Time LLC Anna Romanenko.

The Irish company plans to bring about EUR 60 million for the construction of the photovoltaic power station with a capacity of 62 MW in Lugyny district.

“We have considered many regions for implementing such a project. Despite the fact that Zhytomyr region is in the north, the sun energy here is 40 percent less than in the south, we selected this region because we liked to work with you. In September 2019, we plan to launch the first park of solar stations” – Mr. Merkel noted.

Investors appealed to Mr. Gundych to reconsider and reduce the rental rate for the land for the period of construction.

“We are ready to help you and we can reduce the rental rate to 1%, but such a rate will be until December 31, 2019, when you plan to commission the construction. If you have ambitious plans and you are financially ready to fulfil them, with our support it is realistic to implement this project during a year”, Mr. Gundych said.

After resolving all land issues, a land lease agreement will be signed with the company.

“I fully support investors in our region. What do I like about this business? You will pay a profit tax”, the Chairman of the Regional State Administration added.

Reference: Zhytomyr region is one of the top three regions with the best business conditions.

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