URC-2025: EBRD and IFC consider financing OKKO Group's second 192 MW wind farm
OKKO Group, whose gas station network operates under the same brand, has signed mandate letters with the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) regarding their participation in financing the construction of the company's second wind farm in western Ukraine with a planned capacity of 192 MW (Zaturyntsi wind farm).
As reported in a release by OKKO Group on Monday, the signing took place within the framework of the Ukraine Recovery Conference 2025 in Rome, which took place on July 10-11.
"This project aims to help address Ukraine's urgent energy needs. It is currently undergoing due diligence and awaits approval by the management and boards of directors of the IFC and EBRD," the release said.
It noted that the cost of building the new wind farm is estimated at EUR300 million including VAT and will be financed by both borrowings and OKKO's own funds.
"Design and preparatory work is currently underway, and construction will begin in 2026. The plant is expected to reach full capacity in 2028," OKKO Group said.
As reported, OKKO Group has been building the 147.2 MW Ivanychi wind farm in Volyn region since 2024, which will be the second largest in the unoccupied territories (most likely, after DTEK's Tylihulska wind farm, which has a planned capacity of 500 MW, currently operating at 114 MW). The release specifies that capital investments in the project of the first wind farm are estimated at EUR257 million including VAT, of which EUR100 million are the company's own funds, and EUR157 million are loan financing that it has already received from the EBRD, the IFC, and the BSTDB. According to OKKO Group, the installation of the first wind turbines is currently underway at the site.