Construction of industrial SPPs in Ukraine starts at €400,000 per megawatt
Despite generation shortages in the power grid and equipment price hikes due to new restrictions from China, Ukrainian businesses are resuming investments in the construction of industrial solar power plants. Entering this market segment costs from 400,000 euros to 600,000 dollars per megawatt depending on the project, and the payback periods for the plants range from 2 to 4 years. This was reported by Delo.ua, according to the portal PromPolitInform.
Massive strikes by Russian forces on thermal power plants and chronic capacity shortages are forcing Ukrainian companies to seek new ways of securing energy. Amid market realities, investors choose several core revenue models, including self-consumption to reduce bills, selling on the market under bilateral contracts, and hybrid plants with energy storage systems. Meanwhile, Law No. 4777-IX, adopted in February 2026, made it possible to combine generation, storage, and consumption at a single grid connection point.
Equipment costs and the impact of China’s policy
Creating an industrial solar power plant requires substantial investment, with average costs per megawatt varying significantly depending on the configuration. In 2026, entering this business became more expensive due to the Chinese government’s decision to abolish export tax rebates on value-added tax for photovoltaic products. As a result, prices for solar modules rose by 10 to 20 percent, while the cost of high-voltage cables and logistics services also increased.
Project preparation and financing stages
The process from making the investment decision to connecting the facility to the grid typically takes from one to one and a half years. Bank financing remains available, but financial institutions require a reliable general contractor, high-class equipment, and a clear business model. To ensure stable operation of the plants, companies attract both equity capital and borrowed funds with the participation of international institutions.
Photo: Dilo.ua
