EBRD, Golbeck set up 500 MWp solar JV in Ukraine

The European Bank for Reconstruction and Development (EBRD) and Germany’s Goldbeck Solar Investment have tied up to jointly add up to 500 MWp of photovoltaic (PV) capacity in Ukraine.

The deal was announced at the Ukraine Recovery Conference in Berlin and will see the parties develop, build and operate the projects under a joint venture (JV) partnership, the EIB said on Wednesday.

Under the plan, the proposed PV parks will be commissioned over the next three to five years. EBRD is financing the initiative in a deal that is subject to customary conditions precedent.

The newly founded company dubbed Goldbeck Solar Investment Ukraine GmbH has signed a loan agreement to receive EUR 5 million (USD 5.4m) in debt from development bank DEG – Deutsche Investitions- und Entwicklungsgesellschaft, Golbeck Solar said separately. It noted that the JV transaction will be finalised once regulatory approvals are obtained.

Planning for the construction of the first solar parks is set to begin this autumn.

(EUR 1.0 = USD 1.082)

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