The volume of investments planned by VR Capital in the launch of three wind power plants in Odessa region with a total design capacity of 49.5 MW will amount to EUR 75 million.
According to the US company’s report, after setting the permission of the Antimonopoly Committee, on March 31 in Odessa, three transactions of purchase and sale of corporate rights were carried out with Artsyz Wind Farm LLC, Artsyz Wind Farm 2 LLC and Kyiska Wind Farm LLC, as a result of which the company received all 100% of these rights.
The seller of 68.61% was a corporate investment fund (CIF) owned by the owner of Metropoliya Group of Companies Viktor Kurtev, the sellers of 31.39% were Yuriy Kostrobiy and Oksana Kozachok, who in 2020 carry out intermediate financing of projects at the development stage.
After the sale of three wind farms, the Metropoliya Group, which has carried out the development part of projects, in particular, land acquisition projects, passing the environmental impact assessment procedure, concluding preliminary agreements with the State-owned enterprise Guaranteed Buyer, will continue technical support of the projects until they are put into commercial operation in 2022, according to VR Capital.
In August 2019, VR Capital Group (‘VR Capital’) acquired the remaining stake in alternative energy projects jointly developed with ICU ventures, an independent asset management, private equity and investment advisory firm specialising in Central and Eastern Europe, based in Kyiv.