The EBRD will provide OKKO with a €62 million loan for the construction of a wind power plant in Volyn

The European Bank for Reconstruction and Development (EBRD) will provide the OKKO group with a €62 million loan for the construction of a wind power plant (WPP) in Volyn. This is stated in a message on the EBRD website.

The EBRD is preparing to provide €62 million in long-term loans to the companies "Wind Power GSI Volyn" and "Wind Power GSI Volyn 3" for the construction of wind power plants with a capacity of 147 MW. These companies belong to the Cypriot GNG Retail Limited, which is part of the OKKO group. The allocation of money should be finally approved on December 4, 2024.

"This initiative not only contributes to the transition of Ukraine to the production of electricity from renewable sources, but also strengthens energy security in the face of constant attacks on the Ukrainian energy infrastructure. The wind farm is expected to generate about 380 GWh of renewable, zero-carbon electricity per year, reducing CO2 emissions by more than 245,000 tons per year,” the bank said in a statement.

According to the EBRD, the total cost of the project is €235 million. It should be noted that on February 1, 2024, the Antimonopoly Committee of Ukraine allowed the Cypriot company GNG Retail Limited, which is part of the OKKO group, to buy shares in the companies "Wind Power GSI Volyn" and "Wind Power GSI Volyn 3".

It will be recalled that the European Bank for Reconstruction and Development (EBRD) will also lend OKKO €60 million for the construction of a biofuel plant. In addition, the International Finance Corporation and the Galnaftogaz company signed a letter of mandate to finance the construction of a wind power plant. In general, in 2024-2025, OKKO is going to spend $500 million on "green" projects: production of biofuel, creation of a wind power plant, construction of a storage facility for storing electricity, etc.