DTEK Renewables will pledge the largest solar plant in Ukraine as €325M in Eurobond collateral.

DTEK Renewables Finance B.V., a member of the DTEK group, is asking Eurobond owners for €325M to postpone their repayment for three years (until November 12, 2027), the company reported on the Irish Stock Exchange.

GLAS Trust Corporation Limited is proposed to be appointed as the bond security guarantee agent. As security for the bonds, the energy company is offered to pledge shares in the authorized capital of the companies DTEK Pokrovska SPP and DTEK Tryfonivska SPP.

Due to the war, DTEK Renewables has faced many severe problems and disruptions that significantly affected its operations. The group’s total assets decreased from €1.46B at the end of 2021 to €604M at the end of 2023.

DTEK launched Pokrovska SPP with a capacity of 240 MW in October 2019. This is the largest solar power plant in Ukraine and one of the largest in Europe, with a €193M total investment. Tryfonivska SPP, with a capacity of 10 MW, is the company’s first solar energy project.