Ukrainian titanium producer Velta to invest $10 million in solar and wind power plants

CEO of Ukrainian titanium producer Velta Andriy Brodsky said that investments in energy are a response to rising energy costs, writes inventure.com.ua.

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According to Brodsky, in 2022, energy accounted for about 30% of Velta's production costs. But by the end of 2023, this figure had already reached 60%.

Due to high electricity tariffs in Ukraine, Velta fulfilled only 50% of its planned volumes in 2023.

The company has already started designing solar and wind power plants, as well as energy storage systems. The expected investment volume is $10 million. Velta plans to partially cover the investment with funds from private partners and international investors.

Velta Holding is a Ukrainian mining company specializing in the extraction and processing of titanium ores. The company holds special permits for the Birzulyvske and Lekarivske ilmenite ore deposits.

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