€50 million for the OKKO wind farm: EBRD is considering providing a loan
24 April 19:36
The European Bank for Reconstruction and Development (EBRD) is considering providing a long-term loan of up to €50 million to Volyn West Wind-2 LLC and Volyn West Wind-3 LLC, both majority-owned by VI.AN Holding, a member of the OKKO Group, to finance the construction and operation of a 189-megawatt wind farm in Ukraine, reports "Komersant Ukrainian".
“The EBRD loan will be part of the project’s secured debt financing, with participation from the International Finance Corporation (IFC) and the Black Sea Trade and Development Bank (BSTDB),” the bank’s materials state
The project will also receive guarantee support and grant funds for technical assistance from the European Union under the Ukraine Investment Framework through the HI-BAR program, which reduces risks for investors and helps attract funding to renewable energy and climate technology projects.
According to EBRD materials, against the backdrop of significant losses in power generation capacity due to the war, this investment is expected to help reduce the electricity deficit, support decarbonization, and strengthen the private sector’s role in the development of renewable energy.
“According to the bank’s estimates, the new wind farm will generate approximately 467 GWh of electricity annually and reduce CO2 emissions by about 300,000 tons per year. The total cost of the project is estimated at EUR262 million,” the statement reads.
The project is currently in the planning stage, and its approval is expected on May 28, 2026.
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OKKO Group brings together more than 10 diverse businesses in the fields of manufacturing, trade, construction, insurance, services, and other sectors. The group’s flagship company is the Galnaftogaz concern, which operates one of Ukraine’s largest gas station networks under the OKKO brand, comprising approximately 400 gas stations.
In 2024, the company acquired and developed a number of energy projects,
The founder and ultimate beneficiary of the group is Vitaliy Antonov.
Previously, in April 2025, the EBRD, IFC, and CEB announced a €157 million loan to the Galnaftogaz Group for a 147 MW wind farm in the Volyn region.
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