13.3. mln loan to improve regional power supply and reduce carbon emissions
The European Bank for Reconstruction and Development will provide 13.3 million euros ($17.6 million) for a wind farm in western Ukraine to improve power-supply reliability and reduce carbon-dioxide emissions. This is the first investment of EBRD into wind power generation in Ukraine.
The financing will consist of a 10-year loan of 9.5 million euros from the EBRD and a 15-year loan of 3.8 million euros from the Clean Technology Fund.
Eco-Optima Ltd., A Ukrainian-Italian joint venture company, will use the funds to build and operate a wind farm with a capacity of 12.5 megawatts in Stary Sambir district of Lviv region. With annual generation of around 25,5 GWh electricity the wind farm will supply power to more than 10,000 households. The plant will be operational by the end of this year and should reduce carbon emissions by about 26,000 tons a year, according to the statement released by EBRD on April 25, 2012.
“Ukraine has a great potential in developing renewable energy generation and this project is our contribution to this good cause,” said Olivier Descamps, EBRD Managing Director for Turkey, Eastern Europe, Caucasus and Central Asia. “We are committed to support the development of wind, solar, small hydro and biomass energy projects in Ukraine through our own funds and by providing technical assistance to them.”