UKRGASBANK provided finance to nearly 20 green energy projects with total generation capacity of 115 MW

On the 3rd of March 2017 Rodion Morozov, Head of Ecological Projects Department of UKRGASBANK, participated in 8th Annual Adam Smith Conference “Ukrainian Energy Forum”.

On the strategic session devoted to Development of Electricity Sector in Ukraine Rodion Morozov shared results, prospects and special aspects of financing green energy projects by UKRGASBANK. In particular, since the start of mutual project with IFC in May 2016, the Bank carried out nearly 20 green energy projects with total generation capacity of 115 MW.

“Every month we observe the trend of increasing number of potential green energy projects and the most important is that the scale of such projects expands. Moreover, large international investors from such countries as Sweden, Austria, Germany, Japan, France, India and others started to demonstrate their interest in green power industry of Ukraine”, – said Mr. Morozov.

Among the main advantages of UKRGASBANK financing green projects is the availability of technological expertise of projects conducted jointly with IFC, evaluating compliance with technical specifications and financial risks of projects. The other advantage is willingness of the Bank to provide loans in Euros of up to 75% of the project cost with low interest rate (7 -8%), which allows investors to achieve the expected return. UKRGASBANK is also considering long term loans (average payback period of green energy projects is 6-8 and sometimes 10 years).

According to Rodion Morozov, there are projects with total potential of up to 400 MW generation capacities in the pipeline of UKRGASBANK.