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Add to Preferred SourcesNew renewable energy generating capacity will be created and put into operation in Ukraine with the help of a €24.5 million syndicated loan arranged by the EBRD.
The syndicated loan consists of an “A Loan” of up to €12.25 million provided on the Bank’s own account and a “B Loan” of the same amount provided by FMO, the Netherlands Development Finance Company. It will finance a 30MW solar plant in the Cherkasy region of Ukraine, which is expected to start generating electricity in the fourth quarter of 2019.
The project will be implemented by a Ukrainian special purpose vehicle fully-owned by the Norwegian solar developer Scatec Solar ASA. For the EBRD and FMO this will be the first co-financing in Ukraine in the renewables sector.
The project will be the EBRD’s second investment under its €250 million Ukraine Sustainable Energy Lending Facility III (USELF III) framework approved by the Bank in July 2018, following the signing of the first project in Mykolaiv earlier in December.
Original source: EBRD
Published on 27 December 2018