The IFC may join the EBRD in financing the construction of a 147 MW wind farm in Volyn.

On December 10, The World Bank Group’s IFC plans to consider the provision of a €55M loan to Concern Galnaftogaz to finance the construction of a wind farm with a 147 MW capacity in the Volyn region. The loan’s term would be 16 years. The total cost of the project is estimated at €235M. It was previously reported that the EBRD had planned to approve a €62M loan to the same company for the same project on December 4. The wind farm is expected to produce about 380 GWh of renewable electricity annually with zero carbon emissions. Galnaftogaz owns OKKO, one of Ukraine’s largest gas station networks, which has over 400 complexes with a network of catering establishments. OKKO CEO Vasyl Danylyak announced the start of construction work on a wind farm in the Volyn region in the fall of 2024. He explained the group’s plans for the renewable energy sector, namely the need to diversify their business, as the gasoline market is no longer growing.