USELF-III Replenishment

Project number:


Approval date:

30 Oct 2019



PSD disclosed:

26 Sep 2019

Sub-projects signed under this framework

Translated version of this PSD: Ukrainian

Project Description

The provision of € 200 million for the replenishment of the existing third Ukraine Sustainable Energy Lending Facility ("USELF-III"). The existing € 250 million framework was approved on 18 July 2018 and is currently expected to be fully committed in 2019.

The EBRD intends to commit new funds to finance private renewable energy projects under the current "Green Tariff" feed-in-tariff system. The proposed replenishment will allow the Bank to build upon the success of USELF-III and maintain the momentum during the transition from Ukraine's existing feed-in tariff mechanism to a support scheme based on competitive auctions.

Project Objectives

The purpose of the new facility is to help Ukraine achieve its target of 11 per cent (including around 6 per cent share of large hydropower plants) gross final electricity consumption from renewable energy sources by 2020 as set in the National Renewable Energy Action Plan approved in October 2014. Despite the significant growth of renewable energy in the recent years, the penetration of renewable energy other than large hydropower remains low, at approximately 3 per cent of annual generation.

Transition Impact

The facility's transition impact stems from the following transition quality:

Green: The facility will fund the development and financing of renewable energy generation assets and contribute to the reduction of tCO2e emissions.

Client Information

The facility will be available to private developers, both local and international, developing renewable energy generation projects in Ukraine.

EBRD Finance Summary

EUR 200,000,000

Total Project Cost

EUR  200,000,000

Dependent on each project's capital cost and financing plan.

Environmental and Social Summary

Under the Bank's 2014 Environmental and Social Policy, the Framework itself is not categorised. The independent consultant retained for the Framework, under terms of reference agreed with the Bank, will categorise each sub-project and carry out a project and sponsor-specific environmental and social due diligence (ESDD) and information disclosure to ensure compliance of that sub-project with the Bank's Performance Requirements (PRs). In the absence of any site-specific sensitivities or concerns associated with any future sub-project, it is anticipated that they will be categorised as B, subject to confirmation during project-specific appraisals. The Facility will consider renewable energy generation projects focused on wind and solar, that will be associated with E&S impacts that are predicted to be site-specific and to be addressed via implementation of appropriate mitigation measures and good site selection.

For each sub-project the consultant will undertake site specific due diligence and develop a Non-Technical Summary (NTS), Stakeholder Engagement Plan (SEP) and Environmental and Social Action Plan (ESAP), as appropriate, based on the ESDD findings. The Framework's PSD page will contain brief summary of each sub-project and links to the key project documents published on the USELF website to facilitate information disclosure and public consultation.

Technical Cooperation

Technical Cooperation will continue to be implemented under the USELF-III Facility.

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP 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. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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