BSTDB participated in the financing of the 147 MW onshore wind farm in the Volyn region of western Ukraine through a EUR 37 million senior loan, alongside the EBRD and IFC, as part of a EUR 157 million project finance package. The total project cost amounts to EUR 260 million, including EUR 103 million in equity from the sponsor, OKKO Group. The wind farm will install 25 modern wind turbines and is expected to generate approximately 380 GWh of renewable electricity annually, enough to supply around 150,000 people, while reducing CO₂ emissions by about 25,000 tonnes per year.
The project has strong development impact by expanding Ukraine’s renewable energy capacity, diversifying the electricity mix, and supporting long-term energy security and decarbonisation, which once operational would generate annually approximately 396 GWh of renewable energy, translating into 255,000 tons of avoided eqCO2 emissions. A key innovation is the introduction of Ukraine’s first long-term corporate renewable power purchase agreement (PPA), which provides stable revenue through a 19-year market-based contract with a corporate off-taker. This structure establishes an important precedent for privately financed renewable energy projects without public support, helping to attract new private investment into the sector.
The transaction also demonstrates effective multilateral cooperation, bringing together several international financial institutions and leveraging blended finance instruments, including first-loss guarantees and concessional funding from international partners. These risk-mitigation tools enabled long-term project finance in a challenging market environment. BSTDB’s participation highlights its commitment to supporting sustainable infrastructure, climate finance, and regional energy transition, while contributing to the development of innovative financing models that can be replicated in future renewable energy investments.
BSTDB amount: EUR 37 million
Total operation cost: EUR 260 million
Type of financing: Project finance
Maturity: 16 years
