Metinvest launches first gas-fired power plants in April, plans to provide up to half of needs with own capacity by 2030

The Metinvest mining and metallurgical group launched the first gas-fired power plants in April of this year and will add more by the summer, and the next stage will be the construction of almost 40 MW of solar generation.

As Chief Operating Officer (COO) of Metinvest Group Oleksandr Myronenko told Forbes-Ukraine, the group is investing more than $44 million in its own sources of electricity - gas-fired and solar plants - to protect production from wartime energy risks.

It is specified that on April 15, the company launched its first gas-fired power plant. Four units with a total capacity of 10 MW will strengthen the energy security of the Kamet Steel metallurgical plant, which in total requires up to 150 MW. By the end of May, Metinvest plans to launch another 19 MW of gas-piston units at the Northern and Central Mining and Processing Plants. Total investments in gas generation in 2025 are $26 million.

In 2025-2026, the company plans to invest $18.1 million in 37 MW of solar power plants at Central Mining and Processing Plant and Kamet Steel.

The payback period for gas generation is 3-4 years, for solar generation is 5-6 years. Expected annual savings due to the use of own electricity from gas-piston units are $8.5 million, and from solar panels are $4.9 million.

In three to four years, Metinvest, the country's largest consumer of electricity, plans to provide itself with 50% of its own generation. The company's consumption in 2024 averaged 672 MW, and in 2021 - 1,405 MW.

According to Myronenko, in order to avoid a sudden stop in the equipment and maintain it in standby mode for up to 10 hours until the supply from the external network is restored, the company purchased 242 diesel generators with a total capacity of 22.9 MW for $4.3 million. The decision was made after the first blackouts due to Russian shelling of the Ukrainian energy sector.

Such generators are needed exclusively to avoid accidents. To cover production needs, the company is developing more powerful power plants: gas piston and solar, and is also considering installing gas turbine generators.

Under favorable conditions, Metinvest can achieve 50% energy independence in 3-4 years.