Japan set to help Ukraine’s Naftogaz rejuvenate clean energy production
In a move to modernize thermal power plants (TPPs) and develop a joint wind energy project, Ukraine’s state-owned oil and gas group Naftogaz has signed memorandums with two Japanese corporations, Naftogaz announced on Feb. 19.
The agreements were signed in Tokyo during a conference on economic development and reconstruction, Naftogaz reported. Sumitomo Corporation will assist in conducting feasibility studies for the modernization of Ukraine's heating supply systems with the support of the Japanese government and will facilitate financing from Japanese state financial institutions.
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"TPPs in Ukraine, especially those transferred to Naftogaz, were built a long time ago and have extremely outdated infrastructure,” said Naftogaz Group CEO Oleksiy Chernyshov.
“We are highly interested in modernizing them using advanced Japanese technologies. This collaboration is crucial and, we hope, will lead to real infrastructure projects."
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The second memorandum, signed with Japanese company Komaihaltec, plans for the installation of 1 MW wind turbines at a Naftogaz facility.
Sumitomo, a Japanese industrial and trading group, has diversified business interests worldwide with total assets estimated at approximately $90 billion.
Komaihaltec specializes in manufacturing wind turbines and other renewable energy equipment.
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