The developers of the 500MW Zaporizhia wind farm in south-east Ukraine have commissioned the first 98MW phase of the project.
LongWing Energy SCA, VLC Renewables Fund 1 (VLCR), a Jersey-based fund established by Low Carbon and Vitol to invest in renewable energy generation and GE Energy Financial Services (EFS) said phase one comprises 27 3.6MW GE turbines with 137-metre diameter rotors and 110-metre hub heights.
Electricity generated by the project will be sold through a power purchase agreement to Ukrainian state enterprise Guaranteed Buyer at a set feed-in tariff.
Phase one was sponsored by LongWing and VLCR with GE EFS as a preferred equity investor.
Senior debt financing of $150m (€123m) was provided by the US International Development Finance Corporation (DFC), the country's development bank, formerly known as the Overseas Private Investment Corporation.
GE EFS worked with DFC to close debt financing and enable the build out of LongWing’s first project in the country.
LongWing Energy managing director David Hunter said: “The LongWing Energy team is pleased to have reached the successful commissioning of phase one of the Zaporizhia wind park project, after leading its development over the past seven years.
“This result justifies the substantial social and financial investment LongWing has made as a pioneer in the Ukraine renewable energy market, and validates LongWing’s business strategy as a Central and East European renewable energy IPP.”
GE Renewable Energy onshore wind international president and chief executive Sheri Hickok said: “Reaching commercial operations on the first phase of Zaporizhia wind park marks GE’s fourth wind farm project in Ukraine.
“We are proud to be supporting Ukraine’s drive towards renewable energy by supporting our customers with innovative onshore wind technology, delivering financing solutions that helps drive sustainable economic growth, and working in a way that keeps the safety of our teams front and centre.”
