Ukrainian state bank to finance 520MW wind farm
Ukrainian state bank to finance 520MW wind farm | Windpower Monthly
Ukrainian state-owned Oschadbank is financing the construction a 520MW wind farm in the west of the country.
The bank’s deputy chairman Yurii Katsion announced the project Facebook. It will use equipment supplied by domestic wind turbine manufacturer Friendly Wind Technology.
The project will consist of 100 turbines. It will be implemented together with large commercial companies as well as private investors, Katsion wrote. The details of the project are still being worked on, he added.
“Most importantly, our partner is a national manufacturer of wind power equipment,” he wrote. “Communities will receive new jobs, a share of the revenue from electricity sales and a substantial amount of additional taxes in local budgets.”
Ukraine has added 228MW since Russia’s invasion of the country, bringing the country’s cumulative capacity to 1.9GW, the Ukrainian Wind Energy Association confirmed at the WindEurope 2024 conference in Bilbao last week.
Oschadbank has financed more than 833MW of installed green energy capacity to date at a cost of more than €890 million
Related Knowledge Center: ENERGY BASICS: wind
Decades of government support for the development of wind energy has resulted in lower costs and a rapidly growing share of electricity generated by wind turbines. Wind in 2019 accounted for 7.3 percent of electrical generation, surpassing for the first time hydropower at 7.0 percent.