19.02.2026
In the new episode of the special media project “The Big Interview” by the Energy Club business community, we host Yevhen Yaremenko, Founder and CEO of Solar Steel Construction (part of the SolarSK Group). His company stood at the origins of the industrial solar generation market in Ukraine; today, it operates with a turnover of €100 million and exports products to over 30 countries worldwide.
Host: Andriy Kulykov Guest: Yevhen Yaremenko
Andriy Kulykov: Mr. Yaremenko, you started at a time when solar energy in Ukraine was more of an experiment. How did you manage to transform a local manufacturing business into a powerful international company with a turnover of 100 million euros?
Yevhen Yaremenko: We became involved in the alternative energy market even before it fully emerged in Ukraine. Initially, we were a flat-rolled metal processing company. We began receiving our first orders from Germany and Italy for mounting elements back in 2009–2010. At that time, these were the first utility-scale projects of 1–3 MW.
In Ukraine, the law on alternative energy sources already existed, but for businesses and citizens, it seemed like science fiction: how can you get electricity from the sun, sell it, and build a systemic business on it?
In 2013, we formed a separate entity, Solar Steel Construction, which remains the core of our group. We began systematically manufacturing mounting systems. This element accounts for 10% to 20% of the total cost structure of a solar power plant (SPP).
We started by relying on practical experience and studying German designs. At that time, Active Solar was the market monopolist. We fought for our place through quality. A defining moment occurred when we found metal structures with our stamp at a site in Crimea. It turned out that we had sold the products to Germany, where they were assembled and sold back to Ukraine. This served as proof that our Ukrainian product met European standards.
It was a difficult path of competition, especially with Chinese manufacturers. We started as a self-made company of two people—myself and the chief engineer. Today, we operate three factories in Ukraine and position ourselves as a fully Ukrainian company. Over the years, we have produced mounting systems for nearly 5 GW of capacity, with about 3 GW already installed. We also have experience in 500–600 MW of turnkey (EPC) projects and manage an asset portfolio of 150 MW.
Andriy Kulykov: Currently, the company is conducting construction simultaneously at 20 locations across Ukraine and Europe. In a highly competitive environment, how do you maintain such intensity while ensuring quality?
Yevhen Yaremenko: The operational side of SPP construction is a very complex process requiring micro-management. To be successful, it requires 90% involvement from the owner.
The market has a low barrier to entry: many call themselves professional installers after just one project. However, we are oriented toward corporate clients. They have different requirements: you must be bankable, have your own machinery, assets, experience, and the ability to provide a performance bond. This is the “major league” of business, where every step is scrutinized.
Andriy Kulykov: You have expanded Ukrainian mounting systems to the markets of over 30 countries. What was the most difficult part of this process, especially considering the new European regulations?
Yevhen Yaremenko: The geography of our supplies is indeed broad—from Scandinavia to the Balkans, including projects in Panama, the Dominican Republic, Japan, and Africa. However, our primary market consists of logistically accessible countries within a radius of 2,000–2,500 km: Poland, the Baltic states, Romania, and the Balkans. We have offices in Poland, Macedonia, and Serbia. Currently, we are simultaneously building facilities in Sweden, Lithuania, Latvia, Slovakia, Croatia, and other countries.
The main challenge today is CBAM (Carbon Border Adjustment Mechanism), the so-called carbon tax. Metal is a product with a high carbon footprint. We are working to prove the “greenness” of our production: using our own SPPs and purchasing metal from electric arc furnaces rather than blast furnaces. This is difficult, and state support is lacking here. Exports must be supported because they provide the foreign currency revenue necessary for the stability of the hryvnia.
Andriy Kulykov: You mentioned exotic countries. How did a Ukrainian company get there, and how does construction differ, for example, in the Dominican Republic?
Yevhen Yaremenko: We were usually invited to such projects by German partners. In 2014–2016, they were actively entering markets with high “green” tariffs. We developed package solutions and supplied complete sets.
This gave us colossal experience. We learned to design for hurricane-force winds (over 200 km/h) in the Dominican Republic or for seismically active zones (up to 9 points). Therefore, when the Ukrainian market began to develop actively, we were ready for any conditions—whether the steppes of Kherson or the Carpathian mountains. We understood static load calculations and how to correctly integrate a station into the grid.
Andriy Kulykov: Solar Steel Construction has its own production facilities, including a partnership in galvanization. To what extent is a full cycle your competitive advantage?
Yevhen Yaremenko: We are engaged in metal processing rather than smelting, so this is the second stage of processing. Regarding galvanization, it was a strategic cooperation. In 2018, we became the anchor partner for a new galvanizing line. We are the largest independent consumer of this service in Ukraine, ordering 10,000–15,000 tons per year.
Our advantage is traceability. We maintain a data archive for 20 years. If something happens at a station, we can retrieve documents and identify: which plant the metal came from, when it was produced, where it was galvanized, and when it was shipped. This is critically important for the European market and CBAM reporting.
We are also currently implementing a “Gigafactory” project near Kyiv. We plan to concentrate all three of our production sites in one location to optimize logistics and quality control. We are just waiting for the security situation to stabilize for a full-scale launch.
Andriy Kulykov: Which innovative solutions are currently most in demand? Trackers, rooftop systems?
Yevhen Yaremenko: In addition to classic static systems, we launched our own product—the East-West tracker. We tested it for 2.5 years. A pilot station in the Kirovohrad region successfully survived a difficult winter, operating even at -22°C.
Why is this necessary? A tracker allows for the smoothing of generation peaks. Static systems provide maximum output at noon, when the market price often drops (sometimes to zero or negative values, as seen in Spain). A tracker generates more in the morning and evening, when electricity prices are at their highest. The payback for such a system is about one year due to the difference in tariffs.
Another trend is solar carports. This is especially relevant in combination with charging stations for electric vehicles. The business model is simple: a customer arrives at a shopping mall during the day (off-peak hours) and charges their car with cheap solar energy while shopping. It is beneficial for both the owner and the visitor.
Regarding rooftop stations—our priority is reliability. If panels fall in a field, it is a financial loss; if they fall in a city, it is a life-threatening hazard. That is why we are more expensive than “garage” installers, but over the years, we have had almost zero warranty cases.
Andriy Kulykov: Customers are increasingly choosing the EPC (“turnkey”) model. How did you come to this?
Yevhen Yaremenko: We never aimed to be an EPC company to avoid competing with our clients. But the market demanded guarantees. Customers wanted to buy the product along with the installation to have a “single window” of responsibility.
In Europe, an EPC company is often just “a desk, a laptop, and a good bank account.” They hire subcontractors. We are a different story. We have 200 units of our own machinery and about 500 installers on staff. We operate in many countries, maneuvering resources. Currently, for instance, we are building 120 MW in Latvia, along with projects in Macedonia and Serbia. In Ukraine, we act as an EPC primarily for the group’s own projects.
Andriy Kulykov: You manage a 150 MW SPP portfolio. How does the owner’s experience help improve the product?
Yevhen Yaremenko: We were like “the shoemaker with no shoes”—we built gigawatts for clients but had no stations of our own. So, we started investing. Every one of our stations is a testing ground. For example, together with an agrarian university, we are testing agrivoltaics: how to grow crops under panels while saving moisture.
We also built our first own battery storage system, wrote the software for it (EMS), and have been operating in the balancing market for a month. We don’t just sell “hardware”; we sell expertise and guaranteed profitability that we have verified ourselves.
Andriy Kulykov: Solar Steel Construction has officially joined the Energy Club. What are your expectations?
Yevhen Yaremenko: It was long overdue. I have been following the club’s activities for a long time. It is an open community where participants share practical experience rather than just trying to sell something. The energy market is quite friendly: we all know each other, we compete, but we also cooperate. Energy Club is the ideal platform for such communication.
Andriy Kulykov: How do you see the restoration of Ukraine’s energy sector and your company’s role in this process?
Yevhen Yaremenko: We are already actively participating. Last year, we were involved in 220 MW of projects in Ukraine; this year, we plan to double those volumes.
Reconstruction will be difficult. The key issues are the readiness of grids to accept new capacities and the stability of conditions for investors. Investors are ready to put in money, but they need transparent rules of the game that do not change retroactively.
Despite the war, the market is growing. Last year alone, we built 7 projects, 4 of which are in the Kirovohrad region. The payback for solar generation is currently 7–10 years (without storage systems). This is a normal business indicator. Foreign investors are also entering—Germans, Canadians, and Turks are already buying plots and beginning construction.
We believe in a “green” and smart grid reconstruction of Ukraine. We have a chance to build a system more modern than in many European countries, where modernization is moving more slowly.
Andriy Kulykov: So, investors shouldn’t wait; they should enter now?
Yevhen Yaremenko: Investors are already here. There is significant pent-up demand, plus the relocation of industry has changed the consumption map. Energy is currently a risky sector due to military actions, but it is also the most necessary one. Through our example, we show: construction can and must be done right now.
