Zaporizhia Onshore Wind Farm Phase I

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The project involves the development, construction and operation of the first phase (98 MW) of the Zaporizhia Wind Farm, located in Zaporizhia region in southeast Ukraine. The produced energy will be sold via a power purchase agreement (PPA) to state-owned Energorynok benefiting from a 10-year fixed rate feed-in tariff. The project SPV is called EuroCape Ukraine I LLC. The sponsors are LongWing Energy SCA (lead borrower and sponsor), VLC Renewables Fund 1, a Jersey-based fund established by Low Carbon and Vitol, and GE Energy Financial Services (minority equity investor). The project cost is $ 376 million. Overseas Private Investment Corporation (OPIC) provided $ 150 million debt financing, with JP Morgan acting as hedge provider. Financial close was achieved on 25 July 2019. The project should start commercial operations in Q2 2020 and is expected to produce over 330,000 MW hours of clean energy per year and power approximately 170,000 households. Upon construction of the total of 500 MW, the project will be the largest wind farm in the Ukraine to be financed on an international project financing basis. CMS has advised EuroCape Ukraine. https://www.genewsroom.com/press-releases/ge-and-longwing-unlock-financing-and-technology-first-phase-zaporizhia-onshore-wind https://vlcrenewables.com/vlc-renewables-reaches-financial-close-on-first-phase-of-500mw-onshore-wind-farm/ https://cms.law/en/ukr/news-information/cms-advises-eurocape-on-financing-of-the-1st-phase-of-500mw-wind-power-project-in-ukraine https://www.windparkzaporizhia.com/ https://ijglobal.com/data/transaction/47422?name=Zaporizhia%20Wind%20Farm%20Phase%20I%20(98MW)&link=%2Farticles%2F141528%2Ffc-for-first-phase-of-ukranian-wind-farm