Elementum Debt

pending

The proposed financing is a green corporate loan facility of up to €250 million for the benefit of Elementum Energy Limited (“Elementum” or the “Company”), provided through its wholly owned subsidiaries Dnistrovska Vitroelektrostantsiia LLC and Windpark West-R LLC as co-borrowers. The facility will support the development and construction of two greenfield wind power projects in Ukraine: the 57.6 MW Danube project and the 200 MW Ternopil project (also referred to as “Windpark West-R”). In addition, viability gap funding may be provided by IFC as implementing entity of the Clean Technology Fund for a pilot 10 MW/20 MWh battery energy storage system (“BESS”) which is located at one of the Company’s existing facilities. The project is expected to be supported by partners of (i) the European Commission under the Ukraine Investment Framework (“EC-UIF”), (ii) the Economic Resilience Action Program (“ERA Program”) for Ukraine including the Norwegian Agency for Development Cooperation (“NORAD”), and (iii) the Clean Technology Fund (“CTF”), as described in the Blended Finance Section.