Solartec Esco, the company that manufactures and installs solar power plants, won an auction for a 20-year license to extract graphite ore at the Maidanska site of the Burtynske deposit in the Khmelnytskyi region. According to data from the Prozorro.Sales system, the auction concluded on Thursday, Feb. 26.
Ukraine promoted its mineral assets for investments as it was signing the mineral deal with the US, but now European investors seem to be stepping into the game.
According to YouControl, Solartec Esko LLC was registered in 2020 in Ivano-Frankivsk and operates in engineering, geology, and geodesy, providing technical consulting services in these areas, but the list of founders and participants of the legal entity includes SOLARTEC Holding A.S. (Czech Republic), which specializes in photovoltaics and solar energy.
SOLARTEC Holding A.S. operates over 130 MW of solar power plants for customers. In addition to the Czech Republic, the holding operates in Slovakia, Bulgaria, Romania, Serbia, Poland and Ukraine.
Solartec Esco offered Hr.31.7 million ($737,209) for the license, which is three times more than its competitor. As Prozorro.Sales shows, the starting price for the lot was set at Hr.12 million ($279,100).
As the Prozorro.Sales’ website says it was a three-round English auction. Before the auction begins, participants submit their sealed bids. Potential buyers do not know whether there are other competitors or see each other’s bids.
The Maidanska site is located near the village of Burtyn in the Shepetivka district. Data from the State Service of Geology and Subsoil of Ukraine indicates that the site holds approximately 25.5 million tons of ore and over 40 million tons of prospective resources. The total area of the site is 310,4 hectares (767 acres).