GE to Provide Turbines and Facilitate €90 million Financing for 100MW Ukrainian Wind Farm

GE Energy Financial Services has announced that it facilitated the raising of €90 million in project financing for stage I (100-megawatt) of DTEK Renewables BV Primorskaya wind electricity plant (Primorskaya WEP), located on the Sea of Azov shore in Zaporizhia region, South Ukraine.

Bayerische Landesbank, a leading German bank based in Munich, led a German banking consortium, which included KfW IPEX-Bank and Bremer Kreditbank, to provide senior debt to the project.

The deal is supported by German Export Credit Agency, Euler Hermes, which provided an export credit guarantee for the transaction.

This project was awarded to GE Renewable Energy’s onshore wind business, which has committed to provide 26 of its 3.8-130-110HH wind turbines to the Primorskaya WEP and arrange for the installation/commissioning of the turbines to power the wind farm.

Source: Global Energy World