17:23 22.04.2021

NEURC approves feed-in tariff for EuroCape wind power plant of 98 MW

2 min read
NEURC approves feed-in tariff for EuroCape wind power plant of 98 MW

The National Energy and Utilities Regulatory Commission of Ukraine (NEURC) has set a feed-in tariff for the first stage of a wind power plant of EuroCape Ukraine I LLC (Zaporizhia region) with a capacity of 98.01 MW in the amount of 8.82 eurocents per kWh.

According to the decision adopted at the meeting on April 22, the tariff is valid until January 1, 2030.

The first stage of Zaporizhia wind farm consisting of 27 GE Renewable Energy wind turbines with a capacity of 3.6 MW in accordance with the SACI certificate was commissioned on April 7, 2021. The planned annual volume of electricity supply from the facility is 325.5 million kWh.

As reported, EuroCape Ukraine I announced plans to build 500 MW wind farms in Zaporizhia region back in 2009, however, in particular, due to problems with land allocation, the project entered the construction stage only in mid-2019.

Lending for the construction of the wind farm is carried out with the financial support of the U.S. International Development Finance Corporation (DFC, formerly OPIC), which in December 2017 approved a loan for $ 150 million and insurance with reinsurance in the amount of up to $ 320 million. The total cost of construction of the wind farm was then estimated at EUR466 million ($ 560 million).

In July 2019, General Electric (GE) and LongWing Energy SCA (Luxembourg) issued a $ 150 million debt financing package for the first stage of Zaporizhia wind farm.

EuroCape Ukraine I is part of EuroCape New Energy Ltd of the international concern Eurocape Group, which is engaged in the development and construction of wind and solar energy facilities. In addition to its activities in Ukraine, the concern also has large-scale projects in France, Italy, Romania and Poland.

Cyprus-based LongWing Ukraine Limited (formerly Eurocape (Ukraine) Limited) is a 100% beneficiary of EuroCape Ukraine I.

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