EBRD loans will help develop green energy in Ukraine and support utilities
31 October 2024 15:21
The European Bank for Reconstruction and Development is preparing to financially support the construction of a large wind farm in Volyn. This was reported by the European Bank for Reconstruction and Development, "Komersant Ukrainian" reports.
According to LIGA.net, the wind farm planned to be built in Volyn by the Galnaftogaz concern (OKKO filling station chain) will cost 235 million euros and have a capacity of 147 MW. The power plant will produce about 380 GWh of green electricity annually, which will reduce CO2 emissions by more than 245,000 tons per year.
The EBRD is preparing to provide a long-term loan of €62 million to Galnaftogaz and its companies that will implement the project.
It is emphasized that this will be the first private “greenfield project” in Ukraine’s energy sector to receive EBRD financing during a full-scale war. The EBRD believes that the new wind farm will strengthen Ukraine’s energy resilience in times of war.
Supporting the development of green energy in Ukraine is not the only area of financing from the European Bank for Reconstruction and Development.
What socio-economic areas has the EBRD recently invested in?
In August, Kharkiv received a priority loan of up to EUR 25 million to finance the liquidity of its utilities during the war and ensure the uninterrupted provision of basic municipal services to the city’s residents.
The bank also provided financial support to the capital. In September, Kyiv was granted a loan of up to EUR 50 million to finance the liquidity of its key utility company.
Ternopilelektrotrans is to receive up to €10 million to finance the purchase of new trolleybuses and the modernization of a traction substation.
The same amount is to be allocated to the Zhytomyr Tram and Trolleybus Administration to purchase new energy-efficient low-floor trolleybuses with autonomous drive and electric buses with charging stations. The Bank’s investment will allow Zhytomyr residents to expand their route network by adding 4 new trolleybus routes and 2 new electric bus routes. The autonomous trolleybuses and electric buses will be the first of their kind in the city.
