EBRD, BSTDB Join Hands to Finance Solar Plant in Ukraine worth 57.6 MW

The European Bank for Reconstruction and Development (EBRD) and the Black Sea Trade and Development Bank (BSTDB) has announced that it will be financing the 57.6 MW new solar plant in Ukraine.

Now, the country is contemplating to enhance the share of renewables in its energy mix largely on account of a new solar plant located in the Mykolaiv region. Further, the 57.6 MW plant will be the EBRD’s and the BSTDB’s largest solar project in the country till date.

Post conclusion, the new plant is projected to generate at least 65,000 MWh of renewable energy per year and will help in plummeting yearly CO2 emissions by roughly 40,000 tonnes.

Furthermore, both the lenders are financing the construction of the solar plant with corresponding loans of €19.1 million each. The loan will be presented by both EBRD and BSTDB to a specially created project company Ingulets Energo – 2 LLC.

In addition, the investment is implemented under the EBRD’s €250 million Ukraine Sustainable Energy Lending Facility III (USELF III) framework.

Considerably, EBRD is the largest international financial investor in Ukraine. Since the start of its operations in the country in 1993, the lender has made a snowballing promise of approximately €13.1 billion across some 418 projects in Ukraine. In 2018, EBRD has dedicated 36 per cent of its total investments to the green economy.