A consortium of German banks led by Bayerische Landesbank is providing €90m in senior debt finance for the first 100MW phase of DTEK Renewables’ 200MW Primorskaya wind farm in the Zaporizhia region of Ukraine.
GE Energy Financial Services helped facilitate the deal with the consortium, which also included KfW IPEX-Bank and Bremer Kreditbank. The agreement is supported by German export credit agency Euler Hermes.
The first phase of the wind farm will comprise 26 GE 3.8-130-110HH turbines and is expected to be fully operational by the end of next year.
GE will also service the turbines for 20 years, while GE Grid Solutions has signed a €4m contract for the supply of equipment to help connect the project to the grid.
Turbine components, including nacelles, will be built at GE facilities in Germany.
GE Renewable Energy onshore Europe/SSA leader Peter Wells said: “This is an important milestone for GE as we work toward Ukraine’s renewable energy goals.
“GE Renewable Energy is excited to work with DTEK and supply some of GE’s most innovative wind turbines to the Primorskaya WEP project, enabling affordable, reliable and clean energy to the residents and businesses of the Zaporizhia region.”
DTEK Renewables chief executive Philipp Leckebusch said: “DTEK Renewables has proven its major role as a long-standing respected partner in Ukraine for leading international financial institutions and industrial corporations for the supply of the necessary equipment.
“With our investments in advanced and innovative solutions, we will continue to contribute to the transformation of the Ukrainian energy sector and the sustainable development of the country.”
Image: GE
Ukraine wind taps German cash
By EBS