Norway-based wind park developer NBT has signed two agreements with Chinese public electricity utility State Grid, through its subsidiary China Electric Power Equipment and Technology (CET), which will build the 300 MW Zophia II wind farm and the 450 MW Zophia III on an EPC basis. Located in the Zaporizhya region (south-eastern Ukraine), the project will have an installed power generation capacity of 750 MW.
NBT expects to commission the first phase of the project (42.5 MW) by the end of 2020, and the entire wind farm by the end of 2021. The electricity produced by the wind park is expected to reach 2.9 TWh/year and will be sold to the Ukrainian wholesale electricity market operator. Requiring an investment of €1bn (US$1.1bn), the Zophia wind farm will be financed to the tune of €500m by a Chinese banking pool, inlcuding the Industrial Commercial Bank of China, the Export-Import Bank of China and the China Construction Bank. NBT is searching for additional international partners to join the group and provide €750m.
In addition, NBT accepted to cooperate on a global scale on future projects with State Grid, with the signature of a strategic cooperation agreement.
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