Scatec Solar and FMO enter equity partnership for the Kamianka project in Ukraine

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Renewable energy

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Europe

Dutch development bank FMO has signed an agreement with Scatec Solar to take a 40% equity stake in the 32MW Kamianka project in Ukraine.

The total investment for the project is about €35 million and is funded by 70% non-recourse debt financing from the European Bank for Reconstruction and Development (lead arranger) and the Access to Energy Fund, which FMO manages on behalf of the Dutch government.

Scatec Solar is the lead equity investor in the project with 60% ownership, while FMO holds the remaining 40%. Scatec Solar is also the Engineering, Procurement and Construction provider and will provide Operation & Maintenance as well as Asset Management services to the power plant. Construction started early 2019 with commercial operation expected in fourth quarter 2019.

The project is being realized under Ukraine’s ten-year Feed-in-Tariff scheme and is expected to produce about 39GWh per year.

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