Primorskaya Wind Electricity Plant Phase II

active

Prospective

The project involves the development, construction and operation of the 2nd phase of Primorskaya Wind Electricity Plant, located on the shores of the Sea of Azov in Zaporizhzhya region of Ukraine. Phase II has a capacity of 100 MW and this brings the wind farm's total capacity of 200MW. Sponsor is DTEK Renewables. The total project cost for the 2nd phase is around EUR 150 million or $ 167.65 million. The secured debt financing amounts to EUR 90 million or $ 100.59 million, which fives a debt-to-equity ratio of 60:40. Debt was provided a consortium led by Bayerische Landesbank and including 2 German banks KfW IPEX-Bank and ODDO BHF Aktiengesellschaft. The debt is guaranteed by Euler Hermes, the German export credit agency, and CESCE, the Spanish export credit agency, will provide reinsurance to Euler Hermes for around one third of the financing, which can be calculated to be around $ 33.5 million. Financial close was reached on 3 June 2019 and the announcement was published on 24 June 2019. Upon completion of both phases, the plant will generate between 650–700 million kWh of green energy annually, which will be enough to provide about 350 thousand households with electricity. https://ijglobal.com/articles/140789/fc-for-phase-two-of-ukraines-primorsk-wind-farm https://renewables.dtek.com/en/media-center/press/dtek-renewables-secures-90-million-in-foreign-loans-for-the-financing-of-phase-ii-of-the-primorskaya-wep/ https://ijglobal.com/data/transaction/46973/primorskaya-wind-farm-phase-2-100mw

Energy

World Bank Group

Project

Wind, Raw Materials, Power Generation (CCGT), Government, Commercial