EBRD to finance 34 MW of solar in Ukraine

Solar Farm. Author: Michael Mees meesphotography.com License: Creative Commons, Attribution 2.0 Generic.

March 2 (Renewables Now) - The European Bank for Reconstruction and Development (EBRD) said today it is providing financing for the development, construction and operation of three solar power plants totalling 33.9 MW in Ukraine.

The financing is of up to EUR 25.9 million (USD 31.9m) and includes a senior EBRD 10-year loan of up to EUR 18.5 million and a 10-year loan of up to EUR 7.4 million from the Clean Technology Fund (CTF).

The recipient is local engineering, procurement and construction (EPC) firm Kness Group, which will build the three plants in the Vinnitsa region of western Ukraine.

This is the 13th project financed under the Ukraine Sustainable Energy Lending Facility (USELF) and takes the total renewable capacity backed by the EBRD and the CTF to more than 150 MW.

(EUR 1 = USD 1.231)

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Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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