Private investments for Ukraine’s energy sustainability: Gennadii Butkevych’s BGV Group makes its first energy investment

BGV Group Management, an investment company, is moving forward with its first project under the "Energy and Infrastructure" direction of its 2024 strategy. The project involves building over 50 MW of gas cogeneration plants in Rivne. Operating in combined mode, these plants will generate electricity and thermal energy.

Rubryka reports this.

The project involves multiple stages of investment and construction. The initial phase will begin during this current heating season. The entire project is expected to be completed within a year. In terms of execution, this project is one of the first of its kind in the specified sector within the private sector.

BGV Group Management invests in the project through JSC Closed Non-Diversified Venture Fund "Magnum," which is 100% owned by Gennadii Butkevych. The project is being carried out in collaboration with Ukrteplo Management Company LLC. As per the approval of the Antimonopoly Committee, the Magnum fund will purchase a 50% stake in UT Power LLC.

It is important to mention that BGV Group Management, led by Gennadii Butkevych, has pre-selected several additional projects in the energy sector as part of its new investment direction. These projects are set to be implemented within the year.

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Gennadii Butkevych established the BGV Group Management investment firm in 2015 to establish progressive, cutting-edge, and highly productive enterprises centered around producing high-value goods. The company operates in five different areas, including mining, processing, energy efficiency, retail, and development projects. Currently, BGV employs over 2,000 workers across nine regions in Ukraine, where the company operates its facilities. Investing in extracting and refining raw materials remains a key priority for the group. The company has been investing in Ukrainian mining projects for over nine years, totaling more than $100 million. This has the potential to establish Ukraine as a key player in certain industries. Currently, BGV holds licenses for exploring and extracting nine different types of resources, including valuable minerals and metals like graphite, beryllium, titanium, zirconium, and rare earth elements, as well as other minerals such as granite, sand, gas, and oil.