Renewable energy firm Elementum Energy plans to build wind power plants with an installed capacity totaling 400 MW in Ukraine in the coming years, the company's CEO Olga Rybachuk told Forbes.ua in an interview published Tuesday.
Rybachuk said the company plans to add 200 MW of wind capacity in the Odesa region, while the remainder will be built in western Ukraine, as "we want to diversify the location of assets."
Earlier this month, the Ukrainian Wind Energy Association said Elementum plans to build three wind farms in the Odesa region with a total capacity of about 58.5 MW.
In addition, the company is preparing to build two wind farms in the south of Ukraine with a total capacity of 158 MW. Rybachuk stated these are now at different stages and should be ready for construction in the summer of 2025.
Elementum is negotiating to acquire wind power projects in western Ukraine.
Investments in these projects exceed €500 million ($559 million). Rybachuk said Elementum is negotiating with Ukrainian and international banks for funding, as well as with the World Bank's International Finance Corporation (IFC) and the US International Development Finance Corporation (DFC).
Elementum is owned by alternative asset manager VR Capital.
