Chigirin Solar PV Plant

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The project involves the development, construction and operation of 55 MW Chigirin solar power plant in the Cherkassy region in central Ukraine. The sponsor is Scatec Solar as lead investor. Additional partners may join as equity investors. The project SPV is Greenteco SES LLC. The total project cost is EUR 53 million or $ 60.24 million. Credit facilities amounting to EUR 37 million or $ 42.06 million and covering up to 70% of the total project costs have been raised from the European Bank for Reconstruction and Development (EBRD) - EUR 19.68 million or $ 22.37 million, The Nordic Environment Finance Corporation (NEFCO) - EUR 7.31 million or $ 8.31 million and Swedfund - EUR 10 million or $ 11.37 million . Financial close was announced on 28 June 2019. On 19 November 2019 it was announced that FMO has agreed to acquire a 40% stake in the project. Scatec Solar will hold the remaining 60% stake. Construction has already started and it is expected that commercial operation will begin in H1 2020 delivering about 65 GWh per year. The project will be realized under Ukraine’s 10-year Feed-in-Tariff scheme. The plant will provide energy for up to 28,000 households and contribute to avoid more than 36,000 tonnes of CO2 emissions annually. https://scatecsolar.com/2019/06/28/scatec-solar-reaches-financial-close-for-55-mw-solar-power-project-in-ukraine/ https://ijglobal.com/articles/140963/scatec-solar-reaches-financial-close-on-chigirin-solar https://www.ebrd.com/work-with-us/projects/psd/uself-chigirin-solar.html https://www.globenewswire.com/news-release/2019/11/19/1949612/0/en/Scatec-Solar-and-FMO-enter-equity-partnership-for-the-Chigirin-project-in-Ukraine.html