DTEK Renewables has reached financial close on €90 million to build phase II of the Primorskaya wind energy plant in Ukraine’s Zaporizhzhya region.
The loan is provided by a consortium led by Bayerische Landesbank and comprising two further German banks – KfW IPEX-Bank and ODDO BHF Aktiengesellschaft. It is secured by export credit agencies (ECA) Euler Hermes and CESCE.
The loan term is for 10 years after the commissioning of the wind plant.
Phase 2 of the Primorskaya power plant will use 26 of GE’s 3.8-137-110H wind turbines with a total capacity of 100 MW. GE also provided 26 of its 3.8-130-110HH turbines for the 100 MW first stage of the project, which is already operational.
The second phase it due to come on-line in the third quarter of 2019.
“DTEK has proven once again its status as a key investor in the renewable energy sector in Ukraine,” said Philipp Leckebusch, CEO of DTEK Renewables. “The latest loan-based financing for the construction of the Primorskaya WEP strengthens the company's role as a long-term partner for leading international financial institutions and industrial equipment supply companies.”
Construction of the 100 MW phase II of the Primorskaya WEP started in 2018. “The active phase of construction is currently ongoing: all access roads, pile fields and wind turbine foundations have been already completed, installation of the first wind turbines has begun. Completion of commissioning of the whole facility is planned for September 2019,” DTEK said in a statement.