TIU Canada to dismantle equipment from SPP Nikopol through court with Nikopol Ferroalloys Plant
Canadian investor in renewable energy TIU Canada has decided to dismantle equipment from the Nikopol solar power plant (SPP) due to an unresolved situation in a lawsuit with the Nikopol Ferroalloy Plant.
This was stated by CEO of TIU Canada Michael Yurkovich to the "Voice of America".
"The justice system has failed to protect our investments in Nikopol. So we decided to leave, "Yurkovych commented. In particular, a Canadian investor claims that the solar power plant was the victim of a raid by the owner of the Nikopol Ferroalloys Plant.
"Meanwhile, the owners of the ferroalloy plant offered to sell the object for nothing… This situation is not unique for the last two years in this country. World governments, other foreign investors, people in the diaspora must recognize that this is a situation that affects not only TIU, it affects many businesses, and it is getting worse. And we don't want to play this game anymore, "Yurkovych said.
According to YouControl, the Nikopol Ferroalloy Plant is part of the Privat group of businessman Igor Kolomoisky.