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FMO is supporting energy security and reduced pollution in Ukraine by being a partner in a syndicated loan of €150 million loan arranged by the European Bank for Reconstruction and Development (“EBRD”) for the construction of a 250 MW windfarm in the Kherson region of southern Ukraine.
The loan will be extended to the local developer SyvashEnergoProm LLC, co-owned by renewable energy groups Total Eren of France and NBT of Norway, for the construction of the initial 133 MW phase. The farm is expected to begin power generation by the end of 2019.
The package will consist of a €75 million EBRD A-loan and a B-Loan of €50 million from FMO and €25 million from the Green for Growth Fund (GGF). A parallel loan of €5 million will be provided by the Nordic Environment Finance Corporation (NEFCO).
Once the project is fully commissioned, it is expected to reduce CO²² emissions by 470,000 tonnes annually, and to produce over 850,000 MWh of renewable energy each year – enough to provide power to the Ukrainian municipality of Rivne, which has approximately 100,000 households.