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NBT closes EPC contracts for 800-MW wind project in Ukraine

Wind turbines. Author: Rex Brown. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

October 22 (Renewables Now) - Norway’s NBT AS has successfully negotiated an engineering, procurement and construction (EPC) contract with China Electric Power Equipment and Technology Co Ltd (CET) for the second and third stages of a 792.5-MW wind project in Ukraine.

This was announced on Tuesday by law firm Simmons & Simmons, which advised NBT and led the negotiations on the EPC contracts for the 300-MW second stage and 450-MW third stage of the Zophia wind project in Zaporizhya region.

NBT intends to seek EUR 500 million of senior debt from Chinese banks, including Industrial Commercial Bank of China (ICBC), the Export-Import Bank of China and China Construction Bank (CCB), plus EUR 250 million from international lenders for Zophia II and Zophia III.

The first phase of the Zophia project has a capacity of 42.5 MW and, according to information on NBT’s website, should be up and running next year. Phase two and three are expected to be completed by the end of 2021.

NBT is also building the 245.7-MW Syvash wind farm in Ukraine alongside equity partner Total Eren.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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