GE and LongWing Energy S.C.A. has reached financial close on a US$150 million debt financing package for the first phase of the Zaporizhia Wind Farm, in the Zaporizhia region in southeast Ukraine. The phase one 98 MW project is expected to produce over 330,000 MW hours of clean energy per year and power approximately 170,000 households.
The transaction marks GE’s fourth wind farm project in Ukraine to be financed and equipped with GE wind turbine technology. Financing will enable the build-out of phase one, which will comprise 27 GE Renewable Energy 3.6 MW onshore wind turbines with a rotor diameter of 137 meters, a hub height of 110 meters, and a 15-year Full-Service Agreement (FSA).
GE Energy Financial Services (GE EFS), as a minority equity investor, worked with the Overseas Private Investment Corporation (OPIC), the U.S. Government's development finance institution, to unlock project financing for the first phase of the Zaporizhia Wind Farm. The debt financing will be provided by OPIC, with JP Morgan as hedge provider.
