/29th April 2019, RENEWABLE MARKET WATCHTM/ The second-largest solar project in Ukraine has been opened at the end of March 2019 in the near vicinity of the Panovtsy village in Kamianets-Podilskyi district of Khmelnytskyi Oblast by ICU and VR Capital Group, reported the Renewable Market Watch™. The solar PV power plant is a joint-venture by ICU, independent asset management, private equity and investment advisory firm specialising in Central and Eastern Europe and VR Capital Group, an alternative asset manager specializing in global emerging markets. The plant has been commissioned by Podilskenergo and represents an investment in materials and construction of approximately US$55m. The plant's peak capacity is 63.8MW and the plant will generate approximately 68,200 MW/H of clean energy per year. The electricity generated will supply one-third of all the households in Kamianets-Podilskyi city and help decrease carbon emissions by 67,000 tonnes annually. The plant is one of the largest foreign direct investment projects in Ukraine. It will assist in the nation’s transition to renewable energy, including meeting Ukraine’s pledge to, by 2030, reduce its greenhouse gas emissions by at least 40 percent from 1990 levels following the 2015 Paris agreement.