The International Finance Corporation (IFC) has approved a decision to provide a long-term loan of €42 million to the companies Volyn West Wind-2 LLC and Volyn West Wind-3 LLC, which are controlled by VI.AN Holding, part of the OKKO group. The funds will be used for the construction and subsequent operation of a wind power plant with a capacity of 189 MW in Ukraine, according to an IFC statement.
According to the bank’s materials, the total cost of the wind farm project is estimated at approximately €290 million.
Financing for the project also involves participation from international partners, including the European Commission under the Ukraine Investment Framework (EC-UIF) and the Ukraine Economic Resilience Initiative (ERA). The Norwegian Agency for Development Cooperation (NORAD) is also contributing support.
IFC notes that it plays both a financial and non-financial role in the project. On the financial side, this includes structuring a long-term financing package that may include IFC loans, concessional financing, first-loss guarantees, and the mobilization of parallel loans.
On the non-financial side, IFC supports strengthening the project’s financial viability, including through analysis of the electricity market and advisory support. The corporation also helps prepare the project for investment by providing technical guidance on managing environmental and social risks in line with its standards.
The IFC loan will form part of a broader secured debt financing package that also involves the European Bank for Reconstruction and Development (EBRD) and the Black Sea Trade and Development Bank (BSTDB).
