EBRD Invests in Ukraine’s Solar Energy for First Time

October 8, 2012 by  
Filed under Green Energy News

The European Bank for Reconstruction
and Development arranged a 5.7 million-euro ($7.39) financial
package for a solar energy plant in central Ukraine, its first
solar project in the country.

The London-based EBRD will provide a 4.1 million-euro
eight-year loan for a 4.5 megawatt solar plant in Vinnytsya
region to Rengy Development, a group of companies specializing
in renewable energy projects in eastern Europe, the London-based
EBRD said in a handout to reporters today in Kiev. Remaining 1.6
million-euro 16-year loan is to be provided by the Clean
Technology Fund, according to the statement.

The EBRD “remains committed to the development of the
renewable energy sector in Ukraine,” said Andre Kuusvek in the
statement. The bank has already invested 1.3 billion euros in
sustainable energy projects in Ukraine, he said.

The total cost of the solar energy project in Vinnytsya is
10 million euros, Narek Harutyunyan, director of the Rengy
Development, told reporters today in Kiev.

To contact the reporter on this story:
Kateryna Choursina in Kiev at

To contact the editor responsible for this story:
James M. Gomez at

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