EBRD Backs 36 MW Ukrainian PV Plant

Loans of EBRD and CTF in Place for 36 MW Solar Power Project in Ukraine, Doubling to 72 MW in Final Stage
07:11 AM (Beijing Time) - 14. February 2018
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Ukraine is aiming to have an 11% renewable energy share in its energy mix by 2020. The 36 MW PV project, being financed by the EBRD and CTF, is aimed at helping the Eastern European country inch forward toward that goal. (Photo Credit: EBRD)

Key Takeaways

  • The European Bank for Reconstruction and Development (EBRD) has announced its support for a 36 MW solar power project in Ukraine
  • While the EBRD is providing loans of €17.3 million ($21.28 million), the Clean Technology Fund (CTF) will be putting up €6.9 million ($8.49 million)
  • The project is located on the former site of a chemical plant near the village of Ternovytsa, which is in the Yavoriv district of Lviv
  • The final capacity of the project will come in at 72 MW

The European Bank for Reconstruction and Development (EBRD) along with Clean Technology Fund (CTF) have approved loans of €17.3 million ($21.3 million) and €6.9 million ($8.49 million), respectively, for a 36 MW PV plant in Ukraine.

The plant will be located in western Ukraine. In the first stage, 36 MW of capacity is being developed. Ultimately, however, it will double to 72 MW in the final stage. The plant is being built on the site of a former chemical plant near the village of Ternovytsa, which is located in the Yavoriv district of Lviv. The site is not suitable for any other use. As yet, it is not clear when the project will be commissioned.

The project is being built by Energopark Yavoriv LLC, a company set up especially to construct the plant. The majority owner of the company is entrepreneur Zinoviy Kozytskiy. The EBRD has previously financed 2 wind farms in cooperation with Kozytskiy. The entrepreneur’s core business activities are in oil and gas extraction, but he is currently shifting focus to renewable energy generation.

The EBRD is financing the 36 MW PV plant under its financing framework for sustainable energy in Ukraine, which was launched in 2009. The country is aiming to increase the share of renewable energy in its energy mix to 11% by 2020.

Ukraine had an installed PV capacity of 826 MW as of Dec. 10, 2017, according to IB Centre. It is expected to end 2018 with a cumulative capacity of 1.2 GW (see Ukraine PV Capacity Grows 44% In 2017).  

Anu Bhambhani

Anu Bhambhani is the News Editor of TaiyangNews

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Anu Bhambhani