The European Bank for Reconstruction and Development (EBRD) plans to sign an agreement at URC 2026 to provide a long-term loan of up to 50 million euros to Volyn West Wind-2 LLC and Volyn West Wind-3 LLC (Volyn Oblast) for the development and construction of a 189 MW wind farm in Ukraine.
“The total amount of debt financing is 191.3 million euros, provided by a consortium of five international development finance institutions: IFC, EBRD (up to 50 million euros), BSTDB, BI Ukraine Limited, and Swedfund International AB,” according to the project description in the EBRD’s indicative action plan for URC 2026 on Thursday.
It is noted that the project will receive a guarantee and funds for technical assistance under the European Union’s Ukraine Investment Framework Hi-Bar program.
The loan itself will be used to finance the purchase of wind turbines, construction of the power plant’s infrastructure, civil and electrical engineering works, as well as related infrastructure.
It is noted that the borrowers are controlled by VI.AN Holding, which is part of OKKO Group AG.
As previously reported, a few days earlier, the EBRD decided to provide a long-term loan of up to 50 million euros to Volyn West Wind-2 LLC and Volyn West Wind-3 LLC for a 189 MW wind farm, while the IFC decided to provide a 42 million euro loan to these companies.
OKKO Group unites more than 10 diverse businesses in the fields of manufacturing, trade, construction, insurance, services, and other sectors. The group’s flagship company is the “Galnaftogaz” concern, which operates one of Ukraine’s largest gas station chains under the “OKKO” brand, comprising approximately 400 gas stations.
The founder and ultimate beneficiary of the group is Vitaliy Antonov.
