EBRD considers loan for 147-MW wind project in Ukraine

The European Bank for Reconstruction and Development (EBRD) is considering providing a long-term senior loan of EUR 62 million (USD 67m) to finance the construction and operation of a 147-MW wind project in Ukraine by local GNG Group.

The transaction, if approved, will mark the first greenfield private project in Ukraine's power sector financed by the EBRD since the start of the war, the lender said.

The loan is currently under a "concept reviewed" status, with December 4, 2024 set as an approval deadline.

The wind farm project's total cost is estimated at EUR 235 million. Once commissioned, it will produce about 380 GWh of clean electricity annually, equivalent to the reduction of over 245,000 tonnes of carbon dioxide (CO2) per year.

If approved, the EBRD loan will be provided to two entities behind the scheme -- Wind Power GSI Volyn LLC and Wind Power GSI Volyn 3 LLC. The borrowers are majority-owned by GNG Retail Limited and its subsidiary JSC Concern Galnaftogaz.

GNG Group is described as the biggest transportation fuels retail company in terms of sales in Ukraine.

(EUR 1 = USD 1.082)

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