EBRD hands Ukraine additional 200 million euros for renewable energy projects

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The European Bank for Reconstruction and Development (EBRD) has agreed to provide Ukraine with an additional loan of 200 million euros aimed at developing renewable energy sources in the country, Interfax Ukraine has reported.

According to the Ukrainian press, the EBRD intends to issue new funds to finance private alternative energy projects and contribute to the stimulation of green tariffs. The new loan would allow the bank to build on the success of the Ukraine Sustainable Energy Lending Facility programme (USELF-III) and support the current mechanism of preferential tariffs to a support system based on competitive auctions.

EBRD officials added that the USELF-III, which is a 250 million euros programme for supporting renewable energy development in the country, will be implemented by the end of 2019.

The EBRD launched the USELF in 2019. The programme aims to increase the share of green energy consumers in Ukraine to 11 per cent by 2020.