Kvazar, the private Ukrainian manufacturer of solar cells and modules, is seeking an investor to help it ramp up production, Kvazar marketing director Rostislav Kudla said. “An ideal investor would be a fund that would sell back its stake to us a few years down the road,” Kudla said. The minimum investment sought is EUR 9m, he added.
Kvazar would use the equity financing to expand its production capacity and thereby reduce the company’s costs, he said. The investment would take the form of a joint venture, according to Kudla, adding that Kvazar has hitherto only engaged Ukrainian partners in this way. Kvazar, which calls itself a monopolist in the production of solar cells and solar modules in Ukraine, also has production facilities in Germany and in Canada. The company has no plans to conduct an IPO, Kudla said.