The loan for the construction of the first stage of Prymorska Wind Electricity Plant was issued by a consortium of German banks (Bayerische Landesbank, KfW IPEX-Bank, Bremer Kreditbank and others) with risk coverage provided by German export credit agency (ECA) Euler Hermes. The loan term is 10 years after the technical commissioning of the plant, the press service of the company reported.
This is the third financing agreement signed with European financial institutions for the construction of the company's wind energy projects. For the implementation of the first wind farm project in the company's portfolio, the Botievo Wind Farm, DTEK acquired loans in the total amount of EUR 235m from Germany’s LandesBank Berlin (Berliner Sparkasse) from 2012-2014.
This is the first external debt financing agreement of such scale to come into effect in the Ukrainian renewable energy market over the last five years. ECA participation facilitated successful execution of this credit agreement under the background of slightly improving sovereign debt rating and more stable macroeconomic environment of the Ukraine.
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