NIKOPOL, Ukraine, Jan. 30, 2018 /PRNewswire/ – TIU Canada officially commissioned a 10.7 megawatt solar energy plant in Nikopol, Ukraine on Friday, January 26th.  This project was the first investment from the Canadian side under the Canada-Ukraine Free Trade Agreement (CUFTA) in Ukraine. All which took effect in August 2017.  Construction of the site, which is located on the territory of the Nikopol FerroAlloy Plant, began in late May. Also, the total amount of the investment is 10.5 million Euros.

TIU Canada

Michael Yurkovich, President of Refraction Asset Manangement, the parent company for TIU Canada, said, “We are excited about the investment opportunities in Ukraine, and TIU Canada is proud to be a pioneer in the Ukrainian renewable energy market”.  In addition, Chief Operations Officer Hani Tabsh noted, “The launch of this solar energy plant is good for the residents of Nikopol, good for investment in Ukraine and good for trade with Canada.  The facility will provide safe and clean electricity for the people and businesses in the city.”

Michael Yurkovich, President of Refraction Asset Manangement, the parent company for TIU Canada, said, "We are excited about the investment opportunities in Ukraine, and TIU Canada is proud to be a pioneer in the Ukrainian renewable energy market".  In addition, Chief Operations Officer Hani Tabsh noted, "The launch of this solar energy plant is good for the residents of Nikopol, good for investment in Ukraine and good for trade with Canada.  The facility will provide safe and clean electricity for the people and businesses in the city."

Michael Yurkovich, President of Refraction Asset Manangement, the parent company for TIU Canada, said, "We are excited about the investment opportunities in Ukraine, and TIU Canada is proud to be a pioneer in the Ukrainian renewable energy market".  In addition, Chief Operations Officer Hani Tabsh noted, "The launch of this solar energy plant is good for the residents of Nikopol, good for investment in Ukraine and good for trade with Canada.  The facility will provide safe and clean electricity

In addition, the First Deputy Governor of Dnipropetrovsk Oblast Council Oleg Kuzhman noted that TIU’s facility “is the largest solar energy plant in the region“.

As well as Konstantin Gura, representing the State Agency for Energy Efficiency and Energy Savings of Ukraine. For he stated that the project is fully funded by Canadian investors. It also and that demonstrates the effectiveness of the green energy stimulation mechanism. All which currently exists in Ukraine.  This mechanism ensures that feed-in tariffs are fixed in Euros until 2030. Plus and starting from last year, “the opportunity to sign long term power purchase agreements valid through 2030 have been introduced”.

In conclusion, the station consists of 32,304 solar panels. That’s also with 392 inverters installed to manage the power output.  More than 105 kilometers of cables were used. All during the station’s construction. Finally and the area used for the station totals 15 hectares.

Benefits of Solar

As I have written before:

Much of this pollution also comes through solar energy generation. The problem is for the world relies on it to function. Moreover and to be sustained. Many sources of energy are not renewable or sustainable. Safer alternatives have to be found. I mean for the future of our planet. As well as all its occupants. Consequently, one natural and renewable energy source is solar power. It also has no limits to its capacity. Furthermore, it also releases no by-products or gases into the atmosphere.

Serious Emission Reductions

The amount of carbon dioxide (CO2) eliminated in comparison with coal fueled power stations, is 12,738 tons per year.  Thus, this renewable energy project will provide clean electricity to residents and businesses in the Nikopol area.

Consequently, drone footage of the site location is available here. TIU Canada is owned by Refraction Asset Management, based in Calgary, Alberta.

SOURCE TIU Canada

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