The project is backed by the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), and the Black Sea Trade and Development Bank (BSTDB).
According to the EBRD, the financing package includes €60 million from the EBRD, €60 million from the IFC, and €37 million from the BSTDB. The initiative is further supported by a €3.8 million grant from the United Kingdom and guarantees from the European Union.
Galnaftogaz will contribute approximately €68 million of its own capital toward the total project cost of €225 million.
The funds will be allocated to Wind Power GSI Volyn and Wind Power GSI Volyn 3 — the two companies responsible for implementing the wind farm project. Once completed, the facility will have an installed capacity of 147 MW and is expected to generate at least 380 GWh of renewable electricity annually, reducing CO₂ emissions by around 245,000 tonnes per year.
This marks one of the first major private-generation capacity initiatives launched in Ukraine since the start of Russia’s full-scale invasion, which has severely impacted the country’s energy infrastructure.
