The financing will consist of a 10-year loan of 9.5 million euros from the EBRD and a 15-year loan of 3.8 million euros from the Clean Technology Fund, the London-based bank.
Eco-Optima Ltd., a closely held Ukrainian company, will use the funds to build and operate a wind power plant with a capacity of 12.5 megawatts that will supply power to more than 10,000 households. The wind turbines plant will be operational by the end of this year and should reduce carbon emissions by about 26,000 tons a year, according to the statement.
“Ukraine has a great potential in developing renewable energy generation and this project is our contribution to this good cause,” said Olivier Descamps, EBRD Managing Director for Turkey, Eastern Europe, Caucasus and Central Asia. “We are committed to support the development of wind power, solar energy, small hydro and biomass energy projects in Ukraine through our own funds and by providing technical assistance to them.”