03.11.2019 | Case | Eastern Europe | Renewable energy | Ukraine
Wind energy project in Lviv Oblast
Staryi Sambir is a small town at the very start of the Carpathians. The first Eco-Optima wind power station was built here in 2015 in cooperation between the local company Eco-Optima and the European Bank for Reconstruction and Development (EBRD). In 2017, the second Eco-Optima wind power station – Karpatenwind – was commissioned in Staryi Sambir. It is located on the mountain near the town. The wind strength was studied for a year to select the best location for it. As a result, a place was identified where the average wind velocity is 6.7 metres per second.
NEFCO provided a loan of EUR 5 million for the investment. The other financiers of the project were the Danish Climate Investment Fund (DCIF), the European Bank for Reconstruction and Development (EBRD), the Ukraine Sustainable Energy Lending Facility (USELF) and the shareholders of LLC Karpatenwind. The overall investment, was worth EUR 34 million.
The energy produced by the windfarm is sufficient to meet the demand of 70 000 people living in the Staryi Sambir region
The local project owner LLC Karpatenwind is already operating a smaller wind farm of 3 turbines in the same area. The new wind farm comprises six windmills with a total capacity of 20.7 megawatts. The windmills are expected to produce approx. 54.3 gigawatt-hours of electricity per year and reduce carbon dioxide emissions by up to 40,400 tonnes annually.
“We are delighted about this investment since it’s our first wind energy project in Ukraine. We hope that this wind farm will inspire other investors to roll out similar projects elsewhere in the country in order to support the growth of the renewable energy sector in Ukraine,” said NEFCO’s Senior Investment Manager Bo Nyhus.
Case summary
