EBRD and BSTDB finance new solar plant in Ukraine

Press Release | 14-Feb-2019

• EBRD and BSTDB to finance solar plant in Ukraine
• New 57.6 MW plant will reduce CO₂ emissions by 40,000 tonnes
• Largest EBRD and BSTDB solar project in Ukraine to date

Ukraine will increase the share of renewables in its energy mix thanks to a new solar plant in the Mykolaiv region in the south of the country financed by the EBRD and the Black Sea Trade and Development Bank (BSTDB). The 57.6 MW plant will be the EBRD’s and the BSTDB’s largest solar project in the country to date.

Both lenders are financing the construction of the solar plant with parallel loans of €19.1 million each will be provided by the EBRD and the BSTDB to a specially created project company Ingulets Energo - 2 LLC. Upon the completion the new plant will be generating at least 65,000 MWh of renewable energy per year and help reduce annual CO2 emissions by approximately 40,000 tonnes.

The investment is implemented under the EBRD’s €250 million Ukraine Sustainable Energy Lending Facility III (USELF III) framework.

The EBRD is the largest international financial investor in Ukraine. Since the start of its operations in the country in 1993, the Bank has made a cumulative commitment of almost €13.1 billion across some 418 projects in Ukraine.

BSTDB’s cumulative portfolio in the Black Sea region includes 365 approved operations in the key sectors of infrastructure, energy, transport, manufacturing, telecommunications, finance and other areas, totalling about €5 billion.

The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 38 economies across three continents. The Bank is owned by 67 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, inclusive, well-governed, green, resilient and integrated. Follow us on the web, Facebook, LinkedIn, Instagram, Twitter and YouTube.

BSTDB is a regional multilateral development bank established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine to support economic development and regional cooperation among member countries. Follow us at www.bstdb.org, Facebook, Twitter, LinkedIn.