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Vitagro seeks €110M to increase its biomethane production capacity, and OKKO will build a biofuel plant with EBRD funds. According to Vitagro, by 2030 35mn cubic meters of biomethane will be consumed in the EU. That is why the company invested €6M in a biomethane plant and plans to make additional investments with European partners. The company is working to attract €110M for its Khmelnytskyi plant, which will enable Vitagro to increase production of biomethane by fivemn cubic meters per year. The Vitagro group of companies has started five projects at its own expense since the beginning of the full-scale war. Currently, projects to produce fertilizers and a plant that produces bioethanol from corn pellets have already been fully completed. Also, the EBRD has loaned €60M to Ukrainian company Lan-Oil, from the OKKO group, to build a biofuel production plant. The loan is accompanied by an EU financial guarantee, which is provided by the investment component of the Ukraine Facility program. This is the bank's first investment in private biofuel production in Ukraine during the war.
German companies are building wind and solar power plants in Ukraine, and the country urgently needs 5-6 GW of new generation. The German company Notus Energy is implementing a 300 MW wind farm project in the Odesa region, the first stage of which will be 120 MW, the company’s top manager said at URC2024. The first phase of wind turbines will not be completed this winter, but the company is doing everything to launch the project as soon as possible. Another German company, Goldbeck Solar, plans to build up to 500 MW of new solar generation in Ukraine in partnership with the EBRD over the next three to five years. The joint venture Goldbeck Solar Investment Ukraine GmbH will implement the project. This agreement is the first private project for the construction of RES generation with the participation of a foreign investor financed by the EBRD in Ukraine since the beginning of the war. This is also Goldbeck Solar's first investment in the Ukrainian energy sector. According to the head of Ukrenergo, Ukraine’s energy system needs 5-6 GW of generation of various types, and the company requires access to credit financing to develop this capacity.
The European Bank for Reconstruction and Development (EBRD) established a renewable energy joint venture with GOLDBECK SOLAR Investment, which plans to construct and operate new solar PV projects in Ukraine, part of its efforts is to improve the resilience of the Ukrainian energy sector, which has come under fierce attacks by Russia in recent months. EBRD is financing the first private energy deal led by a foreign investor to add renewable generation capacity in Ukraine since February 2022. The deal is subject to customary conditions precedent. The deal, announced at the Ukraine Recovery Conference in Berlin, will strengthen EBRD’s relationship with the GOLDBECK SOLAR Group, an experienced German solar energy company with more than two decades of experience in the sector and with active operations in over 12 countries. The GOLDBECK SOLAR Group currently employs over 550 people and has built in excess of 3 GW (gigawatts) of solar capacity in 20 countries.
OKKO group will build a 150 MW wind farm as well as bioethanol and biodiesel plants. CEO of the OKKO group Vasyl Danylyak said, "In the fall, we will start our first wind energy project with a capacity of 150 MW in Volyn." In addition, the group has already purchased the necessary equipment to construct an energy storage facility. Danylyak also said that the company has been working on the establishment of a biofuel processing strategy for the past two years and has achieved significant results in these matters. At the end of
118 UKRAINE Country Report July 2024 www.intellinews.com