Belarus’ largest wind farm project attracts $40m in foreign investment

Belarus has raised around $40 million in foreign investment to build its largest wind farm. “Belarus has come a step closer to building its largest wind farm and achieving the renewable energy goal by 2030. Belarus intends to set up a wind farm with the capacity of 25 MW near the village of Veleshkovichi (Liozno District of Vitebsk Oblast).
The wind power project will be financed by the Turkish company Guris Construction and Engineering Co. Inc.

The contract to sell the pre-investment asset was signed on 30 August. It was approved by the Belarusian Ministry of Antimonopoly Regulation and Trade. “Thanks to this project, Belarus will attract direct investment in green economy and renewable energy sources. Wind farms will help reduce pollution and improve the quality of life of local residents,” Deputy Minister of Natural Resources and Environmental Protection Aleksandr Korbut said.
Plans are in place to begin work on the project in 2020, after the investor prepares detailed design documentation. The Veleshkovichi wind farm will become the largest wind farm in Belarus and will supply eco-friendly energy to over 20,000 households in the district.
Operation of the wind farm within the next 20 years is expected to reduce carbon dioxide emissions by more than 500,000 tonnes. “The global power consumption is expected to increase by 30% within the next 20 years. At the same time, the total share of renewable energy sources in the global energy sector will increase to 44% by 2050, mainly thanks to solar, wind, and hydropower. Currently renewable energy sources are developing quite slowly in Belarus. As of early 2019, the share of such energy in the national energy market equaled 6.2%.
At present, 96 wind turbines with a total capacity of 100.95 MW work in the country. The international technical assistance project Removing Barriers to Wind Power Development in Belarus is implemented by the Belarusian Natural Resources and Environmental Protection Ministry with assistance of the United Nations Development Program and the Global Environment Facility.
One of the main goals of the project is to reduce risks of investing in wind energy and to prepare pre-investment assets to build wind energy facilities in Belarus. The project provides for selecting a potential site for a wind farm, obtaining all the necessary permits, developing the required technical specifications and eligibility criteria, and carrying out a feasibility study and wind measurements.