The cost of the project is several mln USD. The financing is entirely provided by Ferrexpo itself. The solar power plant will not benefit from government rebates, subsidies, subsidy or green tariff programs.
"We have achieved a market return on this project without any green tariff from the government, which should be an example for other companies that are building renewable energy generation facilities," the company said.
This is a pilot project, after which the company will move to a full-scale replacement of traditional electricity with renewable solar energy as part of a program to decarbonize its production. Ferrexpo plans to build from 250 to 1,000 MW renewable energy power plant in the medium term.
Ferrexpo is a Swiss iron ore company with assets in Ukraine. Its core business is the production and export of high-quality iron ore pellets used in steel production. Ferrexpo is the largest producer and exporter of pellets. Current production assets are Poltava and Yeristovsky Mining and Processing Plants.
