June 25 (Renewables Now) - Ukrainian energy group DTEK has secured the needed funds for the construction of the 100-MW second stage of the 200-MW Primorskaya wind project in Ukraine's Zaporizhia region.
DTEK Renewables BV, a unit of the Ukrainian group, has obtained EUR 90 million (USD 102.6m) in debt from a group of lenders led by Bayerische Landesbank, better known as BayernLB, it said on Monday. The lending consortium included Germany’s KfW IPEX-Bank and ODDO BHF Aktiengesellschaft, with export credit agencies Euler Hermes and CESCE securing the 10-year debt.
The second phase of the Primorskaya wind complex is currently being installed on the Sea of Azov shore. The plant will be equipped with 26 units of General Electric’s (NYSE:GE) GE 3.8-130/137-110HH turbines. The wind turbine maker said separately it will build the nacelles at its factory in Salzbergen, Germany, while blades and towers will be fabricated at its Ponferrada and Bilbao sites in Spain.
The entire 200-MW wind farm is expected to be ready by the end of September 2019, helping Ukraine meet its target of getting 11% of its electricity from renewables by 2020. Once up and running, the EUR-150-million Primorskaya wind farm is expected to produce between 650 million kWh and 700 million kWh of electricity annually, or as much as is needed to supply about 350,000 homes in Ukraine.
(EUR 1.0 = USD 1.140)