On June 17, the European Bank for Reconstruction and Development (EBRD) approved a decision to provide a long-term loan of up to EUR50 million to Volyn West Wind-2 LLC and Volyn West Wind-3 LLC, both majority-owned by VI.AN Holding, a member of the OKKO Group, to finance the construction and operation of a 189 MW wind farm in Ukraine.
According to the bank’s materials, the EBRD loan will be part of the project’s secured debt financing, with participation from the International Finance Corporation (IFC) and the Black Sea Trade and Development Bank (BSTDB).
The project will also receive guarantee support and grant funds for technical assistance from the European Union under the Ukraine Investment Framework through the HI-BAR program, which reduces risks for investors and helps attract funding to renewable energy and climate technology projects.
Against the backdrop of significant losses in power generation capacity due to the war, this investment is expected to help reduce the electricity shortage, support decarbonization, and strengthen the private sector’s role in the development of renewable energy.
According to the bank’s estimates, the new wind farm will generate approximately 467 GWh of electricity annually and reduce CO2 emissions by about 300,000 metric tons per year. The total cost of the project is estimated at EUR262 million.
OKKO Group brings together 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 networks under the “OKKO” brand, comprising approximately 400 gas stations.
The founder and ultimate beneficiary of the group is Vitaliy Antonov.
As previously reported, in April 2025, the EBRD, IFC, and the Black Sea Trade and Development Bank (BSTDB) announced a EUR157 million loan to the “Galnaftogaz” Group for a 147 MW wind farm in the Volyn region.
