Metinvest Commits $44 Million to Solar and Gas Power in Push for Energy Independence

Metinvest Group

First Gas-Fired Plant Launched as Company Aims for 50% Self-Sufficiency by 2030

Metinvest Group is investing $44 million in solar and gas-fired power generation as part of its strategy to secure 50% of its own energy needs by 2030, according to a report by Forbes Ukraine.

On April 15, Metinvest launched its first gas-fired power plant at Kametstal, deploying four Dalgakiran units with a combined capacity of 10 MW. These units will enhance energy security amid ongoing risks from military conflict.

Expansion to Northern and Central Minings

By the end of May, an additional 19 MW of gas-fired capacity will be launched at Northern and Central Minings, using Jenbacher (11 MW) and Cummins (8 MW) units. These are in final test phases.

Preparatory infrastructure included roads, transformer systems, new electrical gear, and gas connectivity, all designed with protective dispersion and anti-shelling measures in mind.

In 2025 alone, $26 million will go into gas-based power generation. Over 2025–2026, the group will invest another $18.1 million into 37 MW of solar power capacity at Central Mining and Kametstal.

Long-Term Goals and Green Transition

Chief Operating Officer Oleksandr Myronenko stated that reaching 50% energy independence will require a favorable loan and investment climate. Metinvest consumed 672 MW in 2024, down from 1,405 MW in 2021, illustrating current energy strain.

While solar energy helps reduce carbon emissions, equipment modernization and a shift to electrometallurgy will be key to achieving carbon neutrality. Metinvest is preparing for CBAM (EU’s Carbon Border Adjustment Mechanism), which imposes carbon taxes on exports starting early 2026. Myronenko called for a 3–5 year CBAM delay for Ukraine due to the ongoing war.

The group plans to transition to electrometallurgy post-war, a move expected to take 7–8 years and cost around $8 billion.

Foreign Operations and New Solar Projects

Though not prioritizing energy self-sufficiency abroad, Metinvest is exploring a solar power plant at its Promet facility in Bulgaria in partnership with DTEK, potentially for power sales. Timing remains uncertain as discussions are ongoing.