USELF: Dnepro-Bugsky Wind



Project number:


Business sector:


Notice type:


Environmental category:


Approval date:

10 Jul 2019



PSD disclosed:

10 Dec 2018

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project Description

The project is for the development, construction and operation of a 110 MW wind farm located in the Oleksandrivka village in the Kherson region in South East Ukraine.

The Project is developed under EBRD's Ukrainian Sustainable Energy Lending Facility III (USELF III), a 250 million Facility to support renewable energy in Ukraine.

Project Objectives

The Project will contribute to Ukraine's objective of bringing the share of renewables in primary energy generation to 25 per cent by 2035. Indeed, despite the significant growth of renewable energy in the recent years, the penetration of renewable energy other than large hydropower remains low, at less than 2% of total supply.

Transition Impact

ETI score: 70

The facility's transition impact stems from the following two transition qualities:

Green: The Project will fund the development and financing of wind energy generation assets and contribute to the reduction of CO2 emissions, with approximately 165,000 tonnes of CO2 per year. 

Competitive: The Project will foster private ownership of renewables projects in the power generation sector, which is dominated by State-controlled nuclear, some thermal power plants and large hydropower facilities, which make up almost 80 per cent of the country's total installed electricity capacity.

Client Information


The Borrower is a special purpose vehicle incorporated in Ukraine for the purpose of developing, constructing and operating the Project. The Borrower is ultimately fully owned by three sponsors, Akuo Energy SAS (France), Saffelberg Investment NV (Belgium) and Aeolus Invest NV (Belgium).  

EBRD Finance Summary

EUR 51,800,000.00

Part of the loan will be syndicated to commercial banks and IFIs.

Total Project Cost

EUR 179,488,992.00

Environmental and Social Summary

Categorized A (ESP 2014). The development of a large 110 MW wind farm and associated 150 kV overhead transmission line, due it size and location, requires an Environmental and Social Impact Assessment (ESIA). The Project was subject to national Environmental Impact Assessment and public consultations, which have been undertaken in full compliance with the Ukrainian regulations and the Competent Authorities have issued appropriate permits for the Project.  An ESIA package was disclosed by the Sponsors on December 4, 2018 at the project website. The Project is consistent with GET approach and its share makes 100%.

Environmental and Social Due Diligence (ESDD) of the Project and the preparation of the supplementary ESIA package was undertaken by an independent consultant. ESDD confirmed that the Project will have limited impacts on protected areas, and environmental and social issues are site specific and readily identifiable and could be readily mitigated. Project has been structured to comply with the EBRD Performance Requirements (PRs) and national and EU environmental standards.

The Project is not located within any nationally or internationally recognised protected areas, with the nearest IBA/Ramsar sites being far beyond the Project footprint. However, it is located in the proximity to the Emerald Site (Dniprovsko-Buzskyi Lyman). Given potential sensitivities of the associated area, a comprehensive independent biodiversity assessment has been undertaken against requirements of EU the Habitat and EU Bird Directives, including 2 years of birds and bats surveys. Critical Habitat assessment was not triggered. The studies to date confirm that there are no major bird migration routes in the area of the turbines location. It has been established that whereas some species may be affected by the project, none of the identified species will be subject to major effects at both construction and operation stages. In line with Good International Practice, additional bird and bat protection measures, for both WPP and the transmission line, were included into the Environmental and Social Action Plan (ESAP) and the Environmental and Social Management and Monitoring Plan (ESMMP) which have been agreed with the Client. 

The ESAP also includes such measures as the development of the environmental and safety management system, enhanced suppliers and contractors management, Stakeholder Engagement Plan, grievance mechanisms for both internal and external stakeholders and measures targeted at reduction of potential adverse impacts on biodiversity, post-construction audit and monitoring of EHS performance and regulatory compliance, including land acquisition and livelihood restoration activities. Social, labour and safety aspects during construction and operation, as well as supply chain management were also analysed and a number of recommendations were presented for the EPC contractor in order to strengthen its institutional capacity to manage E&S risks during the construction and operational phases and deliver the Project in line with Bank's PRs.

 The Project will require an imposition of easements and temporary restrictions on agricultural land plots for which the Livelihood Restoration Plan has been developed and disclosed, and communication with the community members through extensive consultation meetings was performed. To further support affected communities, the Company will provide a community fund to the local council to address community's priority developmental needs.

Technical Cooperation and Grant Financing


Company Contact Information

Oleh Terletskyi
10, Mury street, office 1, Oleksandrivka village, Bilozerskyi district, Kherson Oblast, 75050

PSD last updated

01 Jun 2020

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

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Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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