Significant funding has been allocated to ensuring the energy sustainability of the Ukraine through a new solar power plant.
The European Bank for Reconstruction and Development (EBRD) has announced that it is providing €5.7 million to help finance the development, design, construction and operation of a new solar power plant in Ukraine.
The new facility will be a 4.5 MW plant located in the Vinnitsa region of the eastern European country and will be developed by Green Agro Service LLC.
The funding is essential to Ukraine’s plans to become more energy efficient in the modern era, following neighbouring countries such as Poland in their recent attempts to produce new natural fuel outlets. The eight-year EBRD loan of €4.1 million will compliment a further 15-year loan of €1.6 million from the Clean Technology Fund (CTF) to complete the development.