DTEK Renewables, an operating company consolidating the assets of the oligarch's DTEK energy holding Rinat Akhmetova in renewable energy, has completed a deal to attract 90 million euros in foreign financing for the construction of the second stage of the Primorskaya wind power plant (WPP) in the Zaporizhzhia region.
According to the holding's press release, the loan was provided by a consortium of three German banks—Bayerische Landesbank, KFW IPEX-Bank, and ODDO BHF Aktiengesellschaft—under guarantees from export credit agencies (ECAs) Euler Hermes (Germany) and CESCE (Spain). The loan term is 10 years after the wind farm's commissioning.
This is Euler Hermes' third renewable energy project with DTEK. The agency previously insured debt financing deals for the construction of the first phase of the Primorskaya Wind Farm and DTEK's first major wind energy project, the Botievo Wind Farm. For CESCE, this deal is its first in Ukraine in recent years.
Construction of the second phase of the Primorskaya Wind Farm, with a capacity of 100 MW, began last year. The wind farm will consist of 26 GE wind turbines with a capacity of 3,8 MW each. Upon completion of construction (Phases I and II), the wind farm will be equipped with 52 wind turbines. Total investment in the project will exceed €150 million.
According to the press service, construction is currently in its active phase: all access roads, pile fields, and wind turbine foundations have been built, and the first wind turbines are being installed. Completion is scheduled for September 2019.
After the commissioning of two phases, the Primorskaya Wind Farm with a capacity of 200 MW will generate approximately 650-700 million kWh of electricity annually.
Ранее SKELET-info reported that DTEK completed a deal to acquire controlling stakes in two regional power companies from the VS Energy holding: 68,2949% – JSC Odesaoblenergo and 93,9978% – PJSC Kyivoblenergo.
It was also reported that Akhmetov sells electricity to Ukraine half as expensive as Hungary.
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SKELET-info
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