International energy infrastructure developer CWP Global has acquired a 73 MW onshore wind project currently under development in the Kherson region in southern Ukraine.
The company said on Monday that construction work on this particular project is expected to begin in 2023. The scheme is estimated to require an investment of € 76 million (approximately US $ 90.2 million), which will create 360 jobs.
“Given the potential of renewable energy in Ukraine and its proximity to the growing European market, it was an obvious choice for CWP Global to invest in Ukraine. This landmark investment in Ukraine is an exciting stepping stone for CWP Global, and we look forward to working with communities, supply chain partners and the Ukrainian government to deliver the world's leading infrastructure projects, ”said CWP Chairman Mark Crandall.
The company says it has an ambitious development plan for Ukraine aimed at supporting the country's transition from fossil fuel-based energy production to a low-carbon future.
CWP Global also sees the potential for green hydrogen production in Ukraine. Moreover, the company believes that the country could become a center for the production and export of hydrogen to Western European countries on the continent.
CWP was founded in 2007 out of a passion for renewable energy and the opportunity that has presented a timely entry into the emerging renewable energy market in Southeast Europe. Since then, the company has developed nearly 2,000 MW of renewable energy projects, including Europe's largest operating onshore wind farm. CWP Global is headquartered in Newcastle, Australia.