A 40 MW wind farm will be constructed with backing from a state-owned bank in the Lviv region.

Oschadbank and the Eco-Optima group of companies have signed several agreements to implement the construction of the Sokalska wind farm in the Lviv region, which will have a total capacity of 39.9 MW. The plan includes the installation of seven wind turbines from a German company, NORDEX, and is expected to generate approximately 122 million kWh of electricity annually.

Oschadbank will finance the €40 million construction cost, as well as an irrevocable confirmed green letter of credit exceeding €23 million that is provided through an EBRD partnership.

The project will require just over a year to complete and will have a positive effect on Ukraine’s energy balance by restoring generation capacities.

Eco-Optima is the first private company to receive a loan from the EBRD and currently owns 18 solar and wind power plants totaling 216.8 MW in capacity, of which 88.5 MW comes from wind farms.