INTEGRITES is proud to announce that Syvash project, supported by the firm, has been awarded a “Bronze prize” at EBRD’s Sustainability Awards 2019 in the “Sustainable Energy” category.
The Syvash project is aimed at the construction of 250 MW wind farm by NBT in Kherson oblast and is one the largest wind farm in Europe and the largest in Ukraine. The project is unique as it is funded exclusively by international lenders. It will produce approximately 900,000 kWh of electricity per year that will be enough to supply 250,000 people with electricity. It is planned that the construction process and commissioning will be finished by the end of 2019.
According to the Energy Strategy of Ukraine, the country has set a goal to achieve a sustainable level of the primary energy generation, an increase of renewable energy recourses and energy saving. This project is intended to make a major contribution to help the country to reach these ambitious goals.
Oleksiy Feliv, Managing Partner: “Increasing of the share of power generation from renewable sources, especially from wind, is a very positive dynamic in the country. The sector has already become a real market with the highest foreign investment attraction. So, we are extremely proud of being a part of the project that is not just commercially oriented but meets high environmental, social as well as technical standards to make real changes with lasting benefits
The annual EBRD Sustainability Awards for 10 years has been recognizing those who demonstrate excellence and commitment to managing environmental and social issues, promoting energy efficiency or combating climate change. Nominations are received from teams across the Bank and are judged by an independent panel against a number of criteria, including: standards and best practice; innovation; demonstration effect and capacity building.
INTEGRITES has counseled the developer on the local law issues including the acquisition of the project company, securing international project financing, signing a first FIDIC based wind farm EPC contract and continuing to advise on the construction and related issues.