German banks back Primorskaya project

31 August 2018

DTEK Renewables has raised €90 million in debt financing for the construction of the first phase of the Primorskaya wind farm in the Ukraine.

The loan for the construction of the 100 MW first phase was issued by a consortium of German banks, including Bayerische Landesbank, KfW IPEX-Bank and Bremer Kreditbank, with risk coverage provided by German export credit agency Euler Hermes. The loan term is 10 years after the technical commissioning of the plant.

Located in the Zaporizhzhya region, the Primorskaya wind farm will eventually add 200 MW of renewables capacity to Ukraine’s grid when completed in 2019. The first phase will use 26 of GE’s 3.8 MW wind turbines and is due to start commercial operations at the beginning of 2019.

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