China Mechanical Equipment Engineering will build the third largest solar power plant in Europe

Recently, Ukraine's largest private electricity producer DTEK and China Machinery and Equipment Engineering Corporation (CMEC) announced that they have agreed to build a joint project for one of Europe's largest solar power plants at a cost of 230 million euros.
The solar power plant will be built in the Dnipropetrovsk region of central Ukraine, with a planned capacity of 200 megawatts. In terms of potential production, this power plant ranks third in Europe.
"The project will be completed in a very short period of time and is expected to be completed before the end of this year," DTEK CEO Maksim Timchenko said at the signing ceremony between Kiev and CMEC Chairman Zhang Chun.
The project will be funded by a combination of DTEK funding and CMEC loans. The current loan amount has not been disclosed.
DTEK is a new player in the solar energy field, launching its first solar project in August last year, the Tryfonivska solar power plant with a capacity of 10 megawatts.
Ukraine's energy sector still heavily relies on traditional fossil fuels and nuclear energy. Last year, renewable energy accounted for only about 1% of total electricity generation.
Timchenko stated that DTEK plans to increase its renewable capacity to 1000 megawatts in 2019.
According to a report supported by the United Nations, last year the world's new renewable energy capacity set a new record of 157 gigawatts, more than twice the amount of new fossil fuel capacity added.