Development of energy infrastructure — investments in the construction of a power plant in the south of the Odesa region

Construction of the “Bolhrad Energy Park” will begin this spring in the Odesa region. The project includes a solar power plant with a capacity of 3.3 MW and energy storage systems (ESS) with a capacity of 3 MW and a storage volume of 10 MWh.
This energy project is being implemented by Codex Energy, co-founded by Artur Lupashko, founder of the Ribas Hotels Group, and Oleksandr Hanchev. The total investment in the new solar power plant will amount to €4.5 million, of which €1.5 million consists of the founders’ own and borrowed funds. An additional €3 million is planned to be raised by Codex Energy from the private sector. Investors will be able to join the project with a minimum investment of €20,000 and receive an equity stake in the company, with an expected annual return of 16–20%. The commissioning of the “Bolhrad Energy Park” is scheduled for the fourth quarter of this year.

According to experts, investing in the development of solar power plants represents simple investments in complex technologies. The “Bolhrad Energy Park” will become a next-generation project with two strategic revenue streams. First, a 3.3 MW solar power plant located in the region with the highest solar irradiation in Ukraine. Second, an energy storage system with a capacity of 3 MW and a storage volume of 10 MWh.

As noted by Artur Lupashko, the energy sector is currently the most promising and profitable field in Ukraine for the coming decades. “Many power plants in the country have been damaged, and there is a huge need for electricity generation, storage, and balancing,” he said. “In the south of the Odesa region, there is 30% more sunshine than anywhere else in Ukraine, which ensures the highest returns and makes it the best location for such an energy park. Therefore, I am confident this is a перспективна, profitable, and socially responsible area for the coming years.”

Technically, the “Bolhrad Energy Park” will consist of two parts: a solar power plant that will generate and sell electricity, and an energy storage system with a capacity of 3 MW and a storage volume of 10 MWh, allowing electricity to be stored during periods of low prices and sold to the grid during peak demand hours.

According to the project initiators, the combination of their own investments and borrowed funds will ensure a transparent financial model and predictable returns of 16–20% annually for co-investors. Additional safety measures are предусмотрены at the site: the energy storage system and transformer substation will be protected by special concrete blocks. “I have more than eight years of practical experience in the construction, management, and profit generation of energy facilities. Therefore, everything operates autonomously, transparently, and predictably—like the sun that rises every day,” said Oleksandr Hanchev, co-founder of Codex Energy, explaining the prospects and guarantees of the “Bolhrad Energy Park.”

The project was also reported by Interfax-Ukraine.