The World Bank will invest $345 million in the construction of 350 MW of wind capacity in Ukraine

The International Finance Corporation (IFC), a member of the World Bank Group, plans to mobilize approximately $345 million to build a new 350 MW wind power capacity in Ukraine, Energoreform reports.

The initiative was presented among a number of other initiatives aimed at supporting Ukraine at the URC-2024 recovery conference in Berlin.

Currently, the projects planned to be implemented to improve energy security and support the further development of renewable energy in Ukraine are undergoing a comprehensive review and are awaiting approval by the IFC management and Board of Directors.

Earlier it was reported that the German company Notus Energy is implementing a 300 MW wind farm project in Odesa region, the first stage of which will be 120 MW and will be launched before winter. According to the company’s commercial director Knud Rissel, they have been working on the project since the spring of 2022. All permits, including those related to land, are already in place. Banks support the initiative, despite the possible risk.

As a reminder, on the eve of the Ukraine Recovery Conference in Berlin, Global 100% Re Ukraine, together with its German partners, held the German-Ukrainian Green Business Dialogue on renewable energy in the context of Ukraine’s recovery.