Nebras Power and UDP Renewables announce a strategic partnership

Source: press release, 6 April 2021

Qatari-based global power investment company with assets around world is investing in Ukrainian renewable energy sector
Qatari-based global power investment company with assets around world is investing in Ukrainian renewable energy sector (photo: Nebras Power)

UDP Renewables, a UFuture portfolio company, opens Ukraine for an international power investment company based in Doha, Qatar – Nebras Power. The parties agreed on a strategic partnership and signed a number of contracts.

According to the agreements, Nebras Power assumes a controlling stake in six companies operating UDPR’s photovoltaic solar power plants, namely: Scythia-Solar-1, Scythia-Solar-2, Free-Energy Genichesk, Port-Solar, Terslav and Sun Power Pervomaisk.

“This SPA signifies a fruitful conclusion of the 2-year negotiations on cooperation with Nebras Power — it’s a long-awaited victory and a great honour for us. We are happy to be opening opportunities in the Ukrainian market for a noted global power investment company and are proud to become its reliable partner. I am confident that together we will be able to make our planet cleaner and greener for future generations,” Sergiy Yevtushenko, Managing Partner of UDP Renewables, says.

Nebras Power is an active international player in the global power market. The company invests in the development of clean energy the world over and currently has assets based in the Middle East & North Africa, Asia, Australia, Latin America and Europe. These assets have been developed to meet the growing demands for power. Nebras Power is one of the first players from the Middle East to enter into a long-term strategic partnership with Ukraine.

“For Nebras, Ukraine represents not only a rich and dynamic new market but also symbolises the success of our global growth strategy, which endeavours to identify and invest in robust power projects in both developed and emerging economies. By leveraging this approach, we can deliver clean and reliable power to communities, while endowing those countries, such as Ukraine, with the means to meet their clean and green energy targets,” says Khalid M Jolo, CEO of Nebras Power.

Nebras Power’s Chairman Mohammed Nasser Al-Hajri, echoed Jolo’s vision on the importance of the agreement and the company’s foray into Ukraine: “The partial acquisition of six solar projects in Ukraine will further add to and complement our expanding international portfolio mix. Furthermore, our partnership with UDPR communicates Nebras’s expertise and ability to invest in and furnish projects that will affect positive changes in those diverse international power markets where we invest. As we move forwards, we look ahead to a prosperous and long-lasting relationship with UDPR and Ukraine.”

This cooperation between the two companies will contribute to the development of an innovative economy and the preservation of the environment. The next stage of the partnership envisages joint development of wind power generation projects by Nebras Power and UDP Renewables.

The collaboration will add to Nebras Power’s impressive portfolio of sustainable strategic investments in power, water and renewables globally. For UDPR, the partnership will expand the share of clean energy in Ukraine’s energy balance, improve the country’s global competitiveness, and help reduce its carbon footprint.

“By 2023 we will add more to Ukraine’s green energy capacity, thus improving both our country’s environment and its global economic competitiveness. Thanks to Nebras Power’s investments we will be producing more than 700 GW*h of clean electricity per year, enough to power 310,000 average houses,” Nicholas Tymoshchuk, CEO of UFuture says.