DTEK Renewables, an operating company that manages DTEK assets in the field of renewable energy sources, has concluded a deal on foreign investment of EUR 90 million in the construction of the stage 2 of Prymorska wind farm (Zaporizhia region).
The press service said that the loan was issued by a consortium of German banks (Bayerische Landesbank, KfW IPEX-Bank, and Oddo BHF Aktiengesellschaft) with risk coverage provided by German export credit agency (ECA) Euler Hermes and Spanish CESCE. The loan term is 10 years after the technical commissioning of the plant.
This is the third renewable energy project of Euler Hermes and DTEK. Earlier the agency insured financial deals for the construction of the stage 1 of Prymorska wind far and Botiyevska wind farm, the first big wind energy project of DTEK. For CESCE this is the first agreement in Ukraine in recent years.
“DTEK has proven once again its status as a key investor in the renewable energy sector in Ukraine. Last year, the company’s investments accounted for about a half of the total investments in the renewable energy sector. The latest loan-based financing for the construction of the Prymorska wind farm strengthens the company’s role as a long-term partner for leading international financial institutions and industrial equipment supply companies,” CEO of DTEK Renewables Philipp Leckebusch said on the press release.
The construction of the 100 MW phase 2 of the Prymorska wind farm started in 2018. The wind park will consist of 26 wind turbines manufactured by GE, with a capacity of 3.8 MW each. Upon completion of all the works (phase 1 and 2), Prymorska wind farm will be equipped with 52 GE 3.8-130/137-110HH wind turbines, one of the most innovative GE onshore turbines. The total value of the investments will be more than EUR 150 million.
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, the company reported.
When both phases are commissioned, the 200 MW Prymorska wind farm will generate between 650-700 million kWh of green energy. The operation of the facility will reduce CO2 emissions by 700,000 tonnes per year, through the reduction of use of conventional generation facilities.