Ukrainian business group OKKO is expanding its renewable energy operations and preparing to commission a 147 MW wind farm in Volyn Region. The facility is scheduled to become operational by the end of 2026 or in the first quarter of 2027. Meanwhile, the company has already begun construction of a second wind farm with a capacity of 190 MW.
Speaking at the Kyiv International Economic Forum, OKKO Group CEO Vasyl Danyliak said that investment in the first project amounts to approximately €200 million, while construction of the second wind farm is estimated at €300 million. The combined investment in the two energy projects is therefore expected to reach €500 million.
The first wind farm is being financed with the participation of the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), and the Black Sea Trade and Development Bank (BSTDB). International financial institutions are also involved in financing the group's second wind energy project.
OKKO emphasizes that the development of decentralized power generation has become particularly important amid Russia’s full-scale invasion of Ukraine. The vulnerability of large energy facilities to attacks underscores Ukraine’s need for additional electricity generation capacity and greater diversification of its energy infrastructure.
In addition to its wind energy projects, the group plans to commission its own bioethanol production plant in 2027. The facility's launch was previously postponed due to delays in equipment deliveries.
OKKO Group is a diversified Ukrainian business group operating across more than ten sectors, including manufacturing, trade, construction, insurance, and services. Its flagship company, Galnaftogaz Concern, operates one of Ukraine’s largest networks of fuel stations under the OKKO brand.
The development of wind power generation and bioethanol production reflects the group's strategy to expand its energy business and invest in new energy sources in Ukraine.
