EBRD to Back Rengy Development's Solar Endeavor in Vinnytsia Region

Rengy Development has secured financing from the European Bank for Reconstruction and Development (EBRD) for the construction of an industrial solar power plant in the Vinnytsia region. This marks a significant milestone as it is the EBRD's first investment in a solar energy project.

The EBRD is providing a loan of EUR 5.6 million to Rengy Development for the construction and commissioning of the solar power plant. This is the first of six solar power plants that Rengy Development plans to build in the Vinnytsia region. The stations will be located in the Shargorod, Bershad, Trostyanets, Tomashpil, Yampil, and Mohyliv-Podilsky districts, with a combined capacity of 50 MW. 

The construction commenced last year, and the project is expected to be operational by the end of 2012. This marks a significant milestone for the EBRD, as it is the bank's first investment in a solar energy project. Rengy Development, however, is not a stranger in the renewable energy sector. In addition to the Vinnytsia project, the company is currently developing other solar generation projects with a total capacity of 65 MW. Furthermore, Rengy Development's portfolio also includes wind power plants with a combined capacity of 100 MW.

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