FairWind plans to install 30 wind generators in Ukraine in 2013. Photo: Patrik Rastenberger

NEFCO has signed a loan agreement with the Danish company FairWind A/S to finance wind energy production in Ukraine. FairWind A/S specializes in the erection, installation and maintenance of Siemens and Vestas wind generators.

The company has experience from the Ukrainian energy market, and has been involved in the installation of 30 wind generators in Botievo, approximately 800 kilometres east of Kyiv.

Vestas and FairWind plan to install some 30 wind generators in Ukraine by 2013, and the scheme will be financed by NEFCO, the Danish Investment Fund for Developing Countries (IFU) and FairWind. The cost of the project is expected to be EUR 1.2 million, and NEFCO will finance its part from the corporation’s Investment Fund.

The wind farm will replace fossil power production at other Ukrainian power plants, and contribute to the reduction of carbon dioxide emissions. The current Ukrainian grid emission factor is 0.8 tonnes of carbon dioxide per megawatthour (MWh).

Ukraine has set an ambitious goal to increase the share of energy generated from renewable sources to 20% by 2020. This will further reduce emissions of climate change gases, and bolster the country’s sustainable energy sector.

Learn more about NEFCO’s Investment Fund
Read our brochure about the Investment Fund
Learn more about IFU
Learn more about FairWind
Read about NEFCO’s investments in wind power in Estonia