A Ukrainian state-owned bank is set to provide financing for a 520MW wind farm

Oschadbank, a Ukrainian state-owned institution, is providing funding for the construction of a 520MW wind farm located in the western region of the country.

Yurii Katsion, the bank's deputy chairman, announced the project via Facebook. The endeavor will utilize equipment supplied by Friendly Wind Technology, a domestic manufacturer.

Comprising 100 turbines, the project is set to be executed in collaboration with prominent commercial entities and private investors, as outlined by Katsion. Although specific details are still in the works, he emphasized the involvement of a national wind power equipment manufacturer.

Katsion highlighted the benefits for local communities, including job creation, a portion of revenue generated from electricity sales, and increased tax contributions to local budgets.

Following Russia's invasion, Ukraine has seen an additional 228MW of wind energy capacity installed, bringing the nation's cumulative capacity to 1.9GW, as confirmed by the Ukrainian Wind Energy Association during the WindEurope 2024 conference in Bilbao.

Oschadbank has played a significant role in financing green energy ventures, having already funded over 833MW of installed capacity, amounting to more than €890 million.