Millstone&Co purchases a part of Pridneprovsk Thermal Power Station
Millstone&Co (Poland, Ukraine), an International Investment company, purchased 50% of Pridneprovsk Thermal Power Station’s (Zaporizhzhia oblast, Ukraine) equity capital. Andrey Bozhenko, the senior project manager of Millstone&Co, reported about the deal.
He said that the deal of Millstone&Co to enter equity capital of Pridneprovsk Station, in particular, has two steps. “We made the first one at the end of 2020, we got 25% and after the permit of the Antimonopoly Committee of Ukraine we will get 25% more”, Mr. Bozhenko added.
The funds for the construction of a new thermal power station of general capacity – 8.6 MW of electric power and – 28 MW of thermal power in Tokmak city, Zaporizhzhia oblast, Ukraine totaled around Euro 10 M the half of which was contributed by Millstone&Co. There are plans to invest Euro 3-4 M more before the station will be put into operation.
Mr. Bozhenko said that the station would be put into operation in the second half of 2021.
“Pridneprovska Thermal and Power Station is the first power station in Ukraine which offers beneficial and comfortable conditions for agriculture business development. The station has good location and infrastructure which make it convenient and optimal regarding logistics and also there is an industrial park close by”, – Yaroslav Martynov, the Energy company CEO says.
According to Andrey Bozhenko, the development of thermal energy production facilities based on biofuel is beneficial due to lower cost compared with traditional feedstock and that is why Millstone&Co is interested in this project. “In such a country with developed agriculture as ours there is a surplus of by-products and the similar projects will be on the safe side regarding the biofuel”, – he said.
Millstone&Co is a private investment company that provides traditional investment-related services to its clients. The company has offices in Warsaw, Krakow, and Kyiv.