Galnaftogaz (OKKO brand) has agreed to secure €157M in funding for the establishment of a wind farm in Volyn, as reported by the International Finance Corporation. The financing consists of €60M from the EBRD, €60M from the IFC, and €37M from the Black Sea Trade and Development Bank. This financing will include guarantees from the EU and grant support from the UK totaling £3.8M. The project’s overall cost is €225M, meaning Galnaftogaz will contribute approximately €68M.
The wind farm project involves constructing wind turbines with a total generation capacity of 147 MW, expected to produce at least 380 GWh of renewable electricity annually and cut CO₂ emissions by about 245,000 tons each year. This is among the first private initiatives to build generating capacity since the start of the full-scale Russian invasion, which caused significant damage to much of Ukraine’s energy infrastructure.