February 15 (Renewables Now) - The European Bank for Reconstruction and Development (EBRD) and the Black Sea Trade and Development Bank (BSTDB) are providing EUR 38.2 million (USD 43.12m) in loans to a 57.6-MW solar power plant in Ukraine.
Each bank will lend EUR 19.1 million to a specially created project company named Ingulets Energo - 2 LLC, the EBRD said.
Located in Mykolaiv region, south Ukraine, the new photovoltaic (PV) plant is expected to be able to generate at least 65,000 MWh of electricity per year, enough to offset some 40,000 tonnes of carbon dioxide (CO2) emissions annually.
The project, the largest of its kind funded by the two banks to date in the country, aligns with EBRD's EUR-250-million Ukraine Sustainable Energy Lending Facility III (USELF III) framework, it noted.
(EUR 1 = USD 1.13)