Oschadbank provided financing for the development of wind power generation in Ukraine

Oschadbank has entered into a loan agreement with one of the leaders in the development of wind farms in Ukraine, FRIENDLY WIND TECHNOLOGIES LLC, for the purchase of a LIEBHERR LG 1750 self-propelled crane for UAH 147 million. The crane with such characteristics of lifting capacity, lifting height, and boom reach will be the second in Ukraine.

The project was financed through the state program “Affordable Loans 5-7-9%”.

This agreement is one of the successive steps in Oschadbank's partnership with the only manufacturer in Ukraine that produces 5.2 MW multimegawatt class wind power equipment on a turnkey basis.

“Investing in the development of green energy is one of Oschad's strategic goals. We are currently financing a company whose production facilities make such development possible. This is a Ukrainian manufacturer relocated from Kramatorsk. The degree of localization of production at FRIENDLY WIND TECHNOLOGIES LLC is currently about 40%, and the company plans to increase it to 70% in the near future, which will reduce the cost of wind turbines and help reduce the payback period of projects. The acquisition of its own assembly crane is one of the steps in this direction of the company's development, which Oschadbank will continue to support,” said Yurii Katsion, Deputy Chairman of the Board of Oschadbank in charge of corporate business.

“In the current environment, the support from state-owned banks such as Oschad is crucial for the successful implementation of our projects. Thanks to bank financing, we not only introduce the latest technologies, but also promote energy decentralization, which is critical for Ukraine's energy security during the war. Oschadbank demonstrates a deep understanding of our mission and supports us at every stage, which allows us to maintain the pace of development even in the most difficult periods. Cooperation with such a reliable partner is an important step towards achieving our strategic goals of building and developing green energy in Ukraine,” said Vladyslav Yeremenko, CEO of FRIENDLY WIND TECHNOLOGIES LLC.

As previously reported, Oschadbank will participate in supporting the ambitious project of FRIENDLY WIND TECHNOLOGIES LLC to develop wind farms in western Ukraine. The first phase of the wind farms, which will include 16 wind turbines, is already under construction. The first wind turbine installed in the Nyzhniovoritska community produced the first million kWh of green energy for the Ukrainian power grid in early October. The total installed capacity of all planned wind farms is estimated at 1.5 GW. The project is currently being implemented at the expense of private investors. Subsequently, the project will be financed through bank syndicated loans.