DTEK Renewables Finance B.V. successfully negotiated with its investors, and they agreed to extend payments on green Eurobonds for three years – from November 2024 to November 2027. The bondholders also supported the 384 MW second stage of construction for the Tyligulsk wind farm, given its critical importance for supporting Ukraine’s energy industry in as it navigates the current electricity shortages and its need for large volumes of new distributed generation capacities.
At the beginning of July, DTEK Renewables Finance B.V. announced a request for consent from the holders of €325M in Eurobonds that were due on November 12, 2024, for the postponement of payment for three years. The main reason the company indicated was the consequences of the Russian invasion, which has resulted in asset losses, market disruptions, and the introduction of a moratorium on cross-border payments by the National Bank.
In addition, DTEK Renewables asked to terminate the guarantee for the Tyligulska wind farm project in order to attract financing for construction work.