Total Eren secures financing for 250 MW Syvash wind project in Ukraine
French independent renewable power producer (IPP) Total Eren and the Norwegian wind park developer NBT have signed financing agreements for the second phase (117 MW) of the 250 MW Syvash wind power project in the Kherson region of Ukraine. The €108m financial agreement was signed with a syndicate of development banks and funds will be allocated to the special purpose company Syvash Energoprom. The first 133 MW phase was financed through a €155m loan from a consortium led by the European Bank for Reconstruction and Development.
Syvash is the first internationally financed large-scale wind park in the country, representing a total estimated investment of €380m. The construction of the first phase will start shortly and the commissioning is scheduled for the end of 2019. The produced electricity will be sold to Ukrainian state-run company Energorynok. The construction will be ensured by Nordex and Powerchina, which will provide engineering, procurement and construction (EPC) services. The 63 wind turbines will be supplied by Nordex as well.
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