USELF: NBT Syvash Wind



Project number:


Business sector:


Notice type:


Environmental category:


Approval date:

28 Nov 2018



PSD disclosed:

15 Aug 2018

Translated version of this PSD: Ukrainian

Project Description

The provision of a senior A/B long-term loan of up to EUR 150 million to SyvashEnergoProm LLC (the "Borrower") to finance the construction and operation of an onshore wind farm with the total envisaged capacity of up to 250 MW located in Southern Ukraine (the "Project").

Project Objectives

The Project will help support the development of renewable energy in Ukraine and the overall decarbonisation of the energy sector.

Transition Impact

The Project will help Ukraine achieve its renewable energy targets and contribute to carbon savings.

Client Information


The Borrower is a special purpose company incorporated in Ukraine and created to own, construct and operate the wind farm. The Borrower is owned by East Renewable Energy AB which is majority owned by NBT AS (the "Sponsor"). NBT AS is a Norwegian wind farm developer with operating wind farms in China.

EBRD Finance Summary

EUR 75,000,000.00

Long-term senior loan of up to EUR 150 million in an A/B structure, of which up to EUR 75 million would be funded from the EBRD resources and the remainder would be syndicated in a B-loan structure to eligible institutions. The remaining project financing is expected to be provided via parallel loans from IFIs, DFIs, and other investors.

Total Project Cost

EUR 369,000,000.00

Environmental and Social Summary

Category A (ESP 2014).  An ESIA disclosure package was disclosed by the Sponsor in July 2018. No material questions or issues have arisen during the consultation process.

An independent consultant was retained to undertake Environmental and Social Due Diligence (ESDD) of the Project and the consultant has worked with the Sponsor and their adviser's to develop the ESIA disclosure package. ESDD confirmed that the Project will have limited impacts on any protected area, and environmental and social issues are site specific and readily identifiable and mitigated. The Project is structured to comply with the EBRD Performance Requirements and National and EU environmental legislation.

The ESDD also confirmed that the Sponsor has been implementing Environmental and Social best practice and has the institutional capacity to fully implement the Bank's Performance Requirements. ESDD further identified additional measures to be implemented as part of best practice and which have been included in an agreed ESAP. These comprise, inter alia, additional monitoring and the appointment of an independent expert to monitor and re-evaluate any bird and bat impacts, as well as support the Sponsor in the assessment of additional cumulative impacts. It should be noted that during the ESIA preparation, some wind turbine locations were changed in order to reduce impact on birds and noise impact to local residents.

The Project will not be associated with any physical displacement and a detailed assessment is presently being conducted on economic displacement impacts. A Corporate Social Responsibility (CSR) program is also being developed and agreed with the Client to plan and carry out impact investments in local communities. 

Information on the Project can be obtained on the Company web site and EBRD web page.

The Bank will monitor the implementation of the Project.

There is an Environmental and Social Impact Assessment available for this project.

Technical Cooperation


Company Contact Information

Børge Tvorg
+47 911 93 033
Gulliver Business Center, 1A Sportyvna sq, 17th floor, Kiev, Ukraine

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

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 how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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