In March 2018 the group E.CONNECT has finalized the acquisition of 60% of interest in KramatorskTeploEnergo LLC (Kramatorsk, Ukraine), which had belonged to the international energy corporate group ContourGlobal.
Partner of the E.CONNECT Group in this project is the municipality of city Kramatorsk, which via the municipal company Most owns 40% of interest in the company KramatorskTeploEnergo LLC. The transaction was completed in accordance with the Decision of the Anti-Monopoly Committee of Ukraine #23-p from 25th January 2018, on mutually beneficial terms through the acquisition by the E.CONNECT Group 100% of shares of the company Hamachi Limited (Republic of Cyprus), which owns stake in KramatorskTeploEnergo LLC in Ukraine, as well as in PJSC Mega-Resurs and Hamachi Ukraine LLC.
KramatorskTeploEnergo LLC operates Kramatorsk CHP. Installed electrical capacity of the plant is 160 MW, installed thermal capacity – 438 GCal, primary fuel for the plant is hard coal anthracite. Kramatorsk CHP is the primary source of heat supply for the Kramatorsk city, it provides thermal power to various consumers: more than 30 thousand households and 7 hundred companies, among them – PJSC Novokramatorsky Mashinostroitelny Zavod, and also sales electric power to the Wholesale electricity market (WEM).
During the heating season of the years 2017-2018 the E.CONNECT Group has been supplying Kramatorsk CHP with anthracite coal. Kramatorsk CHP had been since March of 2017 experiencing shortage of the fuel as a result of the cessation of supplies from the temporarily occupied territories of Donetsk and Luhansk regions.
Acquiring of KramatorskTeploEnergo LLC is a part of E.CONNECT’s strategy for increasing Group’s presence on the Ukrainian energy market. On the 22nd of February 2018 representatives of E.CONNECT Group arrived in Kramatorsk with the formal visit – in order to personally meet leadership of Kramatorsk CHP and the city, inspect workshops and equipment, conduct a meeting considering financial situation in the company. E.CONNECT is determined to continue investing in the company in order to enable further modernization of the plant, as well as will increase wages of the employees of the Kramatorsk CHP. Other important aspects of work will be further cooperation with Novokramatorsky Mashinostroitelny Zavod and social partnership with Kramatorsk city.