KNESS Group to open three solar plants with total capacity of 33.9 MW in Ukraine

The EBRD is contributing to Ukraine’s energy security by pledging new funds for the development of alternative power generation. The latest project under the Ukraine Sustainable Energy Lending Facility (USELF) will support the development, construction and operation of three solar plants in the Vinnitsa region of western Ukraine.

The financing of up to €25.9 million for Ukraine’s leading engineering, procurement and construction (EPC) firm KNESS Group provided by the Bank will consist of:

- A senior EBRD 10-year loan of up to 18.5 million
- A 10-year loan from the Clean Technology Fund (CTF) of up to €7.4 million

The solar project has benefited from technical assistance by the EU4Business programme.

Total installed capacity of the three plants will be 33.9 MW. This renewable facility will significantly contribute to the reduction of CO2 emissions (c. 37 500 tons per year). Nearly 350 people will be employed during the construction and approximately 15 during operations. 

source: EBRD

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