Region and country of operations: Eastern Europe, Ukraine
Jurisdiction of registration: Ukraine
Business sector: Renewable energy
Date of agreement (month/year): 4/2019
Finnfund’s financing: EUR 15 million
Share of Finnfund’s financing: 4%
Size of project/financing: 250 MW
Environmental and social category: B+
With a generating capacity of 250 MW, Syvash will be the largest wind farm in Ukraine. The project enjoys the Feed in Tariff for wind, which is valid until January 1, 2030. The forecasted wind regime is very good in the area. The estimated capacity factor of the project is close to 40%.
Main development impact
The project will be a substantial addition to Ukraine’s renewable energy portfolio, which prior to this project is approximately 1,200 MW (excluding hydropower). The project is also aligned with the energy strategy of the country. During the construction phase, the project will create employment in the area and the local communities will also benefit from improved infrastructure, such as access roads. The project will have a social responsibility program, which will support the lives of the nearby communities.
The main development impact of the project will come from avoided CO2 emissions. The project is estimated to reduce CO2-emissions by approximately 300,000 tons per year. This equals to emissions of approximately 100,000 personal vehicles annually.