Ukrgasbank will openly accredit EPC contractors

Ukrgasbank has launched a new line of services - a public procedure for accrediting EPC contractors, general contractors for the construction of renewable energy industrial facilities.

The Bank will conduct a detailed analysis ofEPC contractors’ activities and provide open access to the list of trusted contractors that have undergone the selection process and the objective assessment. The Bank will in this way form a pool of companies that can be trusted by investors.

Ukrgasbank has launched the first open procedure for accrediting EPC contractors in Ukraine to minimize potential risks of non-fulfilment of obligations by contracted companies and the formation of a public register of professionals in the Ukrainian market. According to the Director of Green Financing at Ukrgasbank, Rodion Morozov, anyone will be able to get reliable information about the contractor's activities, their experience and implemented projects.

"In order to protect investors who are ready to develop the Ukrainian RES market, open access to information about the EPC contractors’ activities is required. Today it is crucial to create a list of the best and most reliable representatives of the market – those who can be trusted, who have already proven themselves, and who have a confirmation of the quality of their services. It is important that this information is constantly updated, and so companies will periodically undergo a second accreditation procedure, as a proof of their professionalism and reliability. The market needs up-to-date information and an impartial assessment of the activities of the EPC-contractors," said Rodion Morozov.

Today, Ukrgasbank is the leader in the RES market, the only bank in Ukraine with its own technical office and a powerful team of technical experts, as well as experienced financial risk analysts and lawyers. The Bank financed more than 140 successful projects, with a combined capacity of almost 820 MW, in all sectors of renewable energy - photovoltaics, wind power generation, biomass, biogas and small hydroelectric power plants.

"Most of these projects were implemented with the help of “construction finance", when lending was carried out at the initial stages of implementation. Therefore, we are probably in the best position in Ukraine to know how to build "green" power plants, and how not to, "said Rodion Morozov.

27.12.2018