98MW Ukraine wind project achieves financial close
26 July 2019
Phase I of the Zaporizhia wind project in Ukraine has successfully reached financial close. Mott MacDonald is the lender’s technical advisor for the transaction, appointed by Overseas Private Investment Corporation (OPIC). The project is being developed by LongWing Energy SCA.
Located in the southern region of Zaporizhia, Ukraine, the project currently has a total installed capacity of 98MW in its first phase, with a total planned generating capacity of 500MW.
GE Renewable Energy has been appointed as the turbine supplier and operation and maintenance contractor to supply 27 GE 3.6-137 wind turbines and GE Energy Financial Service is a minority equity investor. The balance of plant contractor is Polish Electrum, who will provide supervision of the civil works. Once connected to the grid, the facilities will be capable of producing over 373, 500MW hours of clean, renewable energy each year – enough to provide power to approximately 170, 000 households.
As lender’s technical adviser, Mott MacDonald undertook a review of energy yield assessment, developed construction contracts, programmes and financial models as well as environmental and social plans. The consultancy will now monitor construction and operations in an ongoing role.
Stefanie Hintze, Mott MacDonald’s project manager, said: “We are delighted that our work has helped the Zaporizhia wind project to reach financial close with the lender. We’re looking forward to continuing to support the lender during the construction period.”
Zaporizhia wind project is expected to begin full commissioning in 2020. On completion, it will be the largest wind farm in the Ukraine to be financed by international non-recourse project-financing.