Novoazovskiy Wind Project

Location:

Ukraine

Project number:

42988

Business sector:

Power and energy

Notice type:

Private

Environmental category:

B

Target board date:

18 Sep 2012

Status:

Repaying

PSD disclosed:

08 Feb 2012

Translated version of this PSD: Ukrainian

Project Description

The EBRD is considering providing a senior loan to Novoazovskiy Wind Park (the “Borrower”). The financing will enable the Borrower to complete construction and commission additional 32.5 MW capacities at the existing wind farm located in Donetsk region. It will use proven technology supplied by Führlander, a well known German manufacturer.

The EBRD intends to utilise Clean Technology Fund (CTF) support for this project in the form of a senior loan with possible concessional elements, depending on further financial analysis, to support the development of a market for large-scale wind technology in Ukraine.

Transition Impact

When approved by the Board of the EBRD, the project will have the following transition impact:
(i) the demonstration effect of successfully operating private wind power generation facility;
(ii) involvement of new investors and lenders to the renewable energy sector in Ukraine;
(iii) use of innovative for Ukrainian power sector non-recourse funding scheme

The Client

LLC Novoazovskiy Wind Park is a special purpose Company incorporated in Ukraine.

EBRD Finance

Loan up to EUR 33.3million, supplemented by a loan of up to EUR 15.5m from the CTF.

Project Cost

Up to EUR 95.2 million.

Environmental Impact

Category B. Environmental and social issues associated with the expansion of an existing wind farm, and replacement of small turbines with larger units can be readily assessed and mitigated.

The Bank retained an independent consultant to undertake an Environmental and Social Diligence (ESDD) of the project. The ESDD confirmed that the site is not located in a sensitive area, and that the project is fully structured to meet the Bank’s Performance Requirements. The area has been associated with wind power generation since the early 1990’s.

As part of the ESDD, a Stakeholder Engagement Programme (SEP) was developed by the Company. This includes the development of a web site, and disclosure of additional information on environmental impacts, notably the Non-Technical Summary (NTS) can be found on the website.

Based on the results of the environmental and social due diligence, an Environmental and Social Action Plan was developed and agreed with the Company.

A non technical summary (NTS) of the Project can be obtained in English (838KB - PDF) (Non Technical Summary)

Implementation requirements

The project company

(i) will be required to provide the Bank with an annual environmental report, including updates on the bird and bat monitoring undertaken, and notification on any material accidents or incidents,

(ii) will conduct its business with due regard to National and EU environmental regulations and standards, and

(iii) will arrange for periodic environmental audits and monitoring visits by Bank staff or appointed representatives, if and when deemed necessary.

Technical Cooperation

None.

Company Contact

Alexander Prigornitskiy
Director
Tel: (+38 050) 310 09 32
Email: alexpri@hotmail.ru

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.