Financed ProjectsIngulets solar PV project

Identification Code:

OP/18/0006

Total Operation Cost:

35.400.000

Maturity:

120 months

Operation Status:

Description and Purpose of the Operation:

Provision of a long-term debt in the amount of EUR 19.1 million to the special purpose Limited Liability Company Ingulets Energo-2, to finance construction and operation of the Ingulets solar park with the total installed capacity of 58 MW, to be located near town of Mykolaiv, Ukraine.

Countries of Operation:

Ukraine (100,00 %)

Financial Product:

Loans

Sector:

Utilities

Domain:

Private

Borrower/Client:

The Limited Liability Company Ingulets Energo-2 LLC is a Ukrainian entity incorporated under Ukrainian law. It is the sole owner of all project consents, rights and land leases required for the construction and operation of the Ingulets Solar PV Project.

Co-Financiers/Participants:

EBRD

Guarantors/Sponsors:

Ukrainian national, Mr. Sergii Khrypkov is the owner of the various businesses including solar, trade and agricultural. He owns and controls 13 PV power plants located in various regions of Ukraine and having total installed capacity of 162 MW, combined under the brand name Clean Energy Holding:http://www.clean-energy.com.ua/en The Sponsor has historically financed its existing solar parks with the EBRD.

Developmental and Regional Cooperation Impact:

The Project will have economic benefits for the Ukrainian economy, creating jobs and the tax revenue gains.

Environmental Classification and Impact (summary):

E&S Category B. Construction and operation of Ingulets PV Park is not likely to result in any significant E&S risk and impact on protected areas, protected species, or other environmentally sensitive receptors; there will be no physical resettlement or economic displacement; the expected impacts will be local and can be efficiently prevented and mitigated. The operation overall is expected to generate a number of positive effects, including local job generation, increased revenues to the local authorities, increased energy security, and power generation from a renewable source that will contribute to the country’s offsetting power generation from conventional fossil-fuel sources.

Operation Leader:

Energy & Infrastructure

E-mail:

ei@bstdb.org