The European Bank for Reconstruction and Development as one of the key creditors of Ukraine has attained a funding package amounting to EUR 23.1 mln for implementation of Karpatska Wind Power Plant project in Lviv Oblast.

According to the EBRD Office in Ukraine, Karpatska Wind Power Plant with the installed capacity of 20.7 MW will operate six wind turbines.

“The funding package amounting to EUR 23.1 mln raised by the Bank includes EUR 8.6 mln from the EBRD, EUR 4 mln – from the Cean Technology Fund, senior loan in the amount of EUR 5.5 mln from the Investment Fund for developing countries, and senior loan in the amount of EUR 5 mln from the Nordic Environment Finance Corporation,” the EBRD statement says. “The project is supported through the Ukraine Sustainable Energy Lending Facility (USELF) which aims to provide financing to local private companies willing to invest in small-scale renewable energy projects in Ukraine. Implementation of USELF initiative is maintained using technical cooperation funds provided by the Global Environment Facility, Sweden and Japan.”

Commenting on the adopted decision, the Head of the EBRD Office Sevki Acuner noted that the project is crucial for the region and country in whole. “It shows how high is renewable energy potential in Ukraine. In addition, it paves the way to similar private investment across the country,” the Office quotes Mr. Acuner.

The EBRD also noted that by starting this initiative in the field of sustainable energy the Bank continued to promote renewable energy sources in Ukraine, which were becoming increasingly important for national energy security.