The European Bank for Reconstruction and Development (EBRD) is to provide a loan to the Rengy Development company for the construction and commissioning of solar power facilities in the Vinnitsa region.
According to Anton Usov, EBRD Principal Advisor for External Affairs, the financing of an alternative energy project such as solar energy is the first such agreement in the Bank’s history.
Details of the project were to have been announced at a press-conference on October 8, 2012 devoted to the signing of a loan agreement attended by representatives of the Bank and partners of Rengy Development, Narek Arutiunian and Serhiy Yevlanchyk.
Kyiv-based Rengy Development intends to build six solar power stations with a total capacity of 50 megawatts in the Vinnytsia region. According to data published on the Rengy Development website, the company’s portfolio includes projects in the solar power industry with a total capacity of 65 megawatts.
As reported, in 2011 the global company Activ Solar built Europe’s largest photovoltaic power station in the Crimea with more than 100 megawatts installed capacity. The total value of the project is about EUR 300 million. It was financed by Sberbank of Russia and VTB.