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.
Country updates
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July 31, 2019
UDP Renewables launches Scythia Solar-2 PV project in Ukraine
UDP Renewables, a part of UFuture Investment Group, has launched its new solar power plant Scythia-Solar-2 in Melitopol (Zaporizhia region). Scythia-Solar-2, with a peak capacity of 33.1 MW, occupies...
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July 25, 2019
Scatec Solar reached financial close for 55 MW Chigirin solar PV project in Ukraine
Scatec Solar has signed a credit agreements for the non-recourse debt financing with the European Bank for Reconstruction and Development (EBRD), The Nordic Environment Finance Corporation (NEFCO) and...
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July 12, 2019
Scatec Solar secures EUR38m loan financing for 54 MW Boguslav solar project
Scatec Solar and partners have closed financing for the 54 MW Boguslav project with a total investment of EUR54 million (US$60.51 million). FMO, the Dutch development bank, Green for Growth Fund (und...
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July 09, 2019
GE facilitates financial closing for the second phase of 200 MW Primorskaya wind project in Ukraine
GE Capital’s Global Capital Advisory (GCA) business, a unit of GE, has facilitated a EUR90 million (US$105 million) financial close for the construction of phase II of DTEK Renewables B.V. 200 m...
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June 27, 2019
Scatec Solar, FMO enter equity partnership for 32 MW Kamianka solar PV project in Ukraine
Scatec Solar has signed an agreement with FMO, the Dutch development bank, for FMO to take a 40% equity stake in Scatec Solar’s 32 MW Kamianka project in Ukraine. The total investment for the pr...
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