The European Bank for Reconstruction and Development (EBRD) is providing financial support for the development and operation of a new windfarm near the town of Staryi Sambir in the Lviv region of western Ukraine.

With this latest investment, EBRD continues to boost energy security and improve the country's supply mix. The 20.7MW Karpatsky windfarm will feature six turbines.

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The €23.1m funding includes €8.6m from the EBRD, €4m from the Climate Investment Funds’ Clean Technology Fund (CTF), a senior loan of €5.5m from the Investment Fund for Developing Countries (IFU), and a senior loan of €5m from Nordic Environment Finance Corporation (NEFCO).

"This is a very important project for the region and for the country and it shows how big the renewable energy potential is in Ukraine."

The project is supported through EBRD’s Ukraine Sustainable Energy Lending Facility (USELF), which is designed to provide finance to private local enterprises wishing to invest in small renewable energy projects in Ukraine.

EBRD's Ukraine director Sevki Acuner said: “This is a very important project for the region and for the country. It shows how big the renewable energy potential is in Ukraine. It also paves the way for similar private investments across the country.”

The bank is also providing financial support to the infrastructure investments that are carried out by CEZ Razpredelenie Bulgaria AD, a private listed utility that provides electricity distribution services to over two million customers in western and north-western Bulgaria.

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Image: EBRD to support sustainable power generation in Ukraine. Photo: courtesy of European Bank for Reconstruction and Development.