CHPP modernization, green energy projects: Naftogaz signs memoranda with Japanese companies

Naftogaz Group has signed memoranda with two Japanese companies regarding the modernization of combined heat and power plants (CHPPs) and the development of a joint wind energy project.

The documents were signed in Tokyo during the Japan-Ukraine Conference for Promotion of Economic Growth and Reconstruction, an Ukrinform correspondent reports, referring to Naftogaz Group’s press service.

In particular, Japan’s Sumitomo Corporation will help to conduct a feasibility study regarding the modernization of Ukraine’s heat supply systems with the support of the Japanese government.

Sumitomo Corporation will also contribute to the procurement of funding from Japanese state-owned financial institutions.

“Ukrainian CHPPs, especially those transferred to Naftogaz, were built a long time ago and have extremely obsolete material resources. We are very interested in their modernization using advanced Japanese technologies. It is an important cooperation, and we hope it will lead to actual infrastructure projects,” Naftogaz Group CEO Oleksiy Chernyshov noted.

Another memorandum, signed by Naftogaz Group with Japan’s Komaihaltec, provides for the installation of 1-megawatt wind turbines. They are expected to be installed in one of Naftogaz Group’s objects.

“This project is part of our movement towards achieving full carbon neutrality. It will allow us to replace energy from traditional sources, consumed by the facility, with clean wind energy,” Chernyshov added.

A reminder that Sumitomo Corporation is one of Japan’s largest worldwide general trading companies with diversified business interests in different industries across the globe. The company’s total assets are estimated at about $90 billion.

Japan’s Komaihaltec is specializing in the production of wind turbines and other renewable energy equipment.