EBRD lends EUR 5.4m to 4.2-MW solar project in Ukraine

Sep 24, 2013 - The European Bank for Reconstruction and Development (EBRD) said today it is lending EUR 5.4 million (USD 7.3m) to Teplodar PiVi LLC to help it build and operate a 4.2-MW solar power plant in Ukraine’s Odessa region.

The financing package will include an eight-year EBRD loan of EUR 3.9 million plus a 15-year loan of EUR 1.5 million from the Clean Technology Fund (CTF).

Once completed, the station will be connected to the local grid. The state will purchase all of the generated electricity at a fixed rate until 2030 under the existing Ukrainian feed-in tariff programme.

The scheme is part of the EBRD Ukraine Sustainable Energy Lending Facility (USELF) investment programme. The bank had committed more than EUR 8.55 billion across 327 projects in the country as of August 1, 2013.

(EUR 1.0 = USD 1.349)

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