EBRD backs Ukrenergo to resolve payment crisis in renewables sector

The European Bank for Reconstruction and Development (EBRD) is investing US$75 million in the US$825 million sustainability-linked bond issued by Ukraine’s national power company, Ukrenergo, to resolve the payments crisis in the renewable energy sector.

The proceeds will cover all payment arrears owed to renewable energy producers. The investment will help to restore the credibility of the Ukrainian renewable energy sector and boost the confidence of private investors and financiers, paving the way for much-needed investment to support the country’s green transition.

“This transaction will enable the country to continue developing its renewable generation industry,” said Matteo Patrone, EBRD Managing Director for Eastern Europe and the Caucasus. He added: “To date, Ukraine’s renewable sector has delivered more than 8.5 GW of clean, local generating capacity, creating jobs and raising tax revenues across the country, while attracting more than €11 billion in domestic and foreign investment.” 

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Press release