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Syvash Wind Power Project

Ukraine | Utilities

Identification Code:: OP/18/0038
Total Operation Cost:: 376.812.940 EUR
Maturity:: 116 months
Operation Status:: BSTDB Approved Amount – Approval Date

30.000.000 EUR – 11 Jan 2019
: BSTDB Signed Amount – Signed Date

30.000.000 EUR – 08 Apr 2019
: Status:
Active
Description and Purpose of the Operation:: Provision of a long-term debt in the amount of EUR 30 million to the special purpose company SyvashEnergoProm LLC to finance construction and operation of the 250 MW wind power project to be located near town of Kherson, Ukraine.
Countries of Operation:: Ukraine (100,00%)
Financial Product:: Loans
Sector:: Utilities
Domain:: Private
Borrower/Client:: The Company, SyvashEnergoProm LLC, is a Ukrainian entity incorporated under the Ukrainian law and is the sole owner of all project consents, rights and land leases required for the construction and operation of the Syvash wind power project.
Co-Financers/Participants:: EBRD, FMO, Green for Growth Fund, NEFCO, PROPARCO, Finnfund and IFU.
Guarantors/Sponsors:: Total Eren - France, NBT - Norway and Al Gihaz - Saudi Arabia.
Developmental and Regional Cooperation Impact:: The Project will have economic benefits for the Ukrainian economy, creating jobs and the tax revenue gains. The Project will help support the development of renewable energy in Ukraine and the overall de- carbonization of the energy sector.
Environmental Classification and Impact:: E&S Category A due to greenfield nature, large size, and immediate proximity to Syvash Sea, which potentially may significantly impact on local and migratory avifauna. The E&SDD concludes that the operation in spite of the above is not likely to generate significant E&S risks and impacts. The potential issues during construction and operation may be safely managed by implementing and following the measures drafted in the ESAP. The Operation underwent ESIA process in line with national and international requirements, including public consultations, and public disclosure on the Bank’s website before Board approval.
Operation Leader:: Energy & Infrastructure
E-mail:: ei@bstdb.org