August 10 (Solar) – A solar panel factory with an annual capacity of 400 MW is planned to be built in Vinnytsia, west-central Ukraine, the State Agency on Energy Efficiency and Energy Saving of Ukraine said on Wednesday.
Construction will take place in two phases of 200 MW each, with the second one due to be completed in 2019.
The company implementing the project is Ukraine's KNESS group, which has so far installed 33 solar power stations totalling 225 MW across the country.
According to the announcement, the annual volume of production of the plant is estimated to be worth USD 180 million (EUR 157m). The facility is expected to create 400 jobs.
The agency noted that that green energy producers that use local equipment can get an up to 10% increase in their tariffs.
The agency's head Sergiy Savchuk commented that the project will not only contribute to the country's solar power industry, but to the regional economy. He also said that another solar panel manufacturing facility was launched this year in Energodar, Zaporizhia region.
(USD 1 = EUR 0.872)