Ukrainian Wind Farm Wins EBRD Sustainability Bronze Award
An Ukrainian wind farm jointly developed by Norwegian and French renewable energy companies has won a sustainability award granted by European Bank for Reconstruction and Development.
The bank, or EBRD as commonly known, announced winners of its 2019 Sustainability Awards at the conclusion of its Sustainability Event, which was part of the bank’s Annual Meeting and Business Forum that took place in Sarajevo, Bosnia and Herzegovina, during 8-9 May.
The Syvash Wind Farm, 246 MW in capacity and located in Kherson region in southern Ukraine, was the Bronze Winner of the Sustainable Energy category.
The wind farm reached financial close in spring where co-sponsors NBT AS, a utility-scale Norwegian wind power developer and investor based in Oslo, and Total Eren SA, a leading renewable power producer based in Paris, sealed deals with a syndicate of European financial institutions led by EBRD.
Included in the syndicate are the Nordic Environment Finance Corporation (NEFCO), Proparco, the Black Sea Trade and Development Bank (BSTDB), Finnish Fund for Industrial Cooperation Ltd (Finnfund) and Investment Fund for Developing Countries (IFU), as well as Green for Growth Fund and FMO acting as B-lenders under EBRD.
According to the sponsors, the Syvash Wind Farm, to become fully operational in 2020, will produce 850 GWh of electric power each year, enough to meet the needs of more than 100,000 local households. It is expected to reduce CO2 emissions by approximately 750,000 tonnes a year, which will create a positive impact on the environment.
The annual EBRD Sustainability Awards celebrate the achievements of the bank’s clients in promoting environmental and social responsibility. The awards are presented in four categories: Sustainable Energy, Climate Resilience, Environmental and Social Best Practice and Environmental and Social Innovation.