International partners have invested millions of euros in a wind farm in Odesa region

In Davos, during the World Economic Forum, the German energy company Notus Energy and the American-Ukrainian investment company Horizon Capital signed an agreement to finance a joint project. It is the construction of a wind farm in Odesa region.

This was reported by the press service of the Ministry of Economy, Environment and Agriculture of Ukraine.

At the same time, Horizon Capital announced the first closing of its Horizon Capital Catalyst Fund, which aims to restore and reconstruct Ukraine. Both deals were signed in the presence of Oleksiy Sobolev, Minister of Economy, Environment and Agriculture of Ukraine.

At the first closing, the fund raised €152 million, which is more than half of the planned €300 million. Horizon Capital Catalyst Fund focuses on investments in key sectors for recovery, including energy, digital infrastructure and construction, which require significant private capital investment.

The fund's first investment was the construction of a wind farm in Odesa region developed by Notus Energy. According to the structure of the deal, Catalyst Fund will receive a 45% stake in the project and finance the corresponding share of equity. The controlling stake will remain with Notus Energy, which will also provide the rest of its own financing and will be responsible for the construction of the facility and its further operation.

The total project budget exceeds 220 million euros. The financing involves raising debt funds from international financial institutions, including EBRD, IFC, Swedfund, BIO, and Green for Growth Fund.

According to Oleksiy Sobolev, the first closing of the Catalyst fund is an important signal to the international community that Ukraine continues to attract investment and rebuild its economy even in the face of war. He also emphasized the importance of the partnership with Notus Energy given the significant loss of generating capacity due to Russian shelling.

The project in Odesa region will be the first of three wind farms in Notus Energy's portfolio in Ukraine with a total capacity of about 300 MW. In general, the company is developing a portfolio of renewable energy projects in Ukraine with a total capacity of more than 1.3 GW, which are at various stages of implementation.

In addition, the construction of the 135 MW Lyman wind farm, which is being implemented by the British company Elementum Energy Ukraine, is underway in the Vyzyr community of Odesa district. In addition, Elementum (Ukraine) II Limited is building three more wind farms with a capacity of 17.7 MW each in the Kiliya and Bolhrad districts of Odesa region.

Анна Бальчінос