The Switzerland-based company plans to build the five plants in Ivano-Frankovsk in the Carpathian region of Ukraine. The budget for the projects is approximately Euro91M (US$115M).
Having signed a binding Letter of Intent (LoI), the company is working with strategic partners to design, build and operate the projects – facilities of 40MW, 20MW and three mini-hydro plants in a cascade with combined capacity of 15MW.
It is also seeking capital investment to secure the project financing needed to move from planning into construction upon completion of due diligence and obtaining regulatory approvals.
In a statement, chief executive Edward J Klaeger IV, said: ‘The hydroelectric market potential in Ukraine is substantial and currently is extremely underutilised.’
Alter Energy was established a year ago through the re-capitalisation and name change of Fincon, which was founded at the end of 2006. It is focused on developing an energy portfolio in Ukraine, and has made acquisitions to have a presence in cogeneration activities.
