Ukrgazbank to invest €19 million in solar power plant construction in Zaporizhzhya region

In 2016-2017, the bank invested a total of over €250 million in the construction of renewable energy facilities.
11:40, 21 March 2018

JSB Ukrgazbank has provided a €19 million loan to a private energy company, Tokmak Solar Energy for the construction of a 50 MW solar power plant outside of Tokmak in Zaporizhzhya region (Eastern Ukraine).

Related: EBRD to invest in three solar plants in Ukraine

Ukrgasbank injects EUR 19 mln in solar power plant construction in Zaporizhia region. The first stage of the plant is expected to have a capacity of 11 MW, according to the bank’s press service post published on Facebook, reported by UNIAN. The plant’s first stage is expected to produce some 14 million kWh of electricity.

“The construction is expected to be completed by December 2018. Once the plant is launched, its capacity will reach 50 MW and provide “clean” energy to inhabitants of six districts in Zaporizhzhya region,” the press service said.

Related: Irish company to invest $274 million in a solar power station in Dnipro region

This is the second solar power plant in Zaporizhzhya region financed by Ukrgazbank. According to the Ministry of Energy and Coal, the share of solar generation in the structure of renewable energy (including large hydropower plants) rose from 2% in 2016 to 6.3% in 2017.

Altogether, Ukrgazbank provided a total of more than €250 million in loans for the construction of renewable energy facilities.

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