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Four biomass plants to be built across Ukraine

26.02.2019 12:10 "Agro Perspectiva" (Kyiv) EBRD arranging US$ 56 million financing package to Kernel Group

Project to be co-financed by Clean Technology Fund

Four new biomass plants will generate 338,500 MWh of electricity annually reducing GHG emissions by 204,000 t CO2e.

The EBRD is promoting the efficient use of resources and renewable energy generation by arranging financing for the construction of four biomass plants in Ukraine by Kernel Group.

The package of up to US$ 56 million will consist of EBRD funding of US$ 48 million and a US$ 8 million loan by the the Clean Technology Fund (CTF) designed to support renewable energy and technology aimed at reducing carbon intensity. This will be the second project supported under the Ukraine Agribusiness Waste Residues Window, funded by the CTF. The funding will support the construction and operation of biomass plants at Kernels production facilities in the Kharkiv, Mykolaiv, Odessa and Poltava regions of Ukraine.

The plants will jointly generate 338,500 MWh of electricity annually from around 228,000 tonnes of sunflower husks.

As part of the investment project Kernel Group is planning to expand specialised agribusiness educational programmes for young people from rural agricultural areas.

The EBRD is the largest international financial investor in Ukraine. Since the start of its operations in the country in 1993, the Bank has made a cumulative commitment of almost 13.1 billion across some 418 projects in Ukraine.

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