Ukrnafta, the country’s largest oil company, has an ambitious plan to build more than 1,000 MW of gas-fired generation worth $1 billion in three years.

This was announced by the company’s CEO Sergiy Koretsky.

According to him, at the first stage, the company plans to build gas reciprocating units with a capacity of at least 100 MW.

“We are using our own funds and also have open credit lines with Ukrgasbank, Sense Bank, and Oschadbank,” said Koretsky.

He also added that there are indicative plans for gas turbine equipment.

“We are planning to build about 1000 MW of such plants over the next three years. The estimated cost is $1 billion. At the same time, we are working on projects of wind and solar power plants,” Koretskyi said.

He said that this is a complex project, the full implementation of which will take about three years.

Source: Forbes Ukraine