solar-ukrET Solar Group, a manufacturer of solar solutions, announced completion of the construction of a 4.2 MW photovoltaic plant in Odessa, Ukraine.

The plant was financed with long-term loan from the European Bank for Reconstruction and Development (EBRD) in the amount of EUR 3.9 million and a further loan of 1.5 million Euro by Fund for clean technologies.

The project, which is an operational solar power among the largest in the region, covers seven acres and employs over 17,000 solar modules manufactured by ET Solar.

“The closing of the financing agreement of long-term project with the EBRD and the successful completion of the central result of seamless coordination between the EBRD and Global Sunelectra IAC our team in Munich. This is a further demonstration that our German team IAC itself becomes a service provider with a full EPC global expertise, a reputation for successful project execution and strong bankability” said Mr. Dennis She, President and CEO of ET Solar.

“The EBRD has invested over € 1.7 billion in sustainable energy projects in Ukraine and is involved in the development of renewable energy sector in the country. Our new investment in renewable energy the Odessa region is an important example of our ongoing commitment in this area, particularly given the importance of diversifying energy supplies to Ukraine,” added Sevki Acuner, Director of the EBRD in Ukraine.

Finally, Peter Rozenkrants, Sunelectra Global CEO, concluded: “Our success in directing tasks as essential as the closing of the debt financing with the EBRD, obtaining approvals of activity, the provision of technical advice and management Local project demonstrates the experience and effectiveness of our team. As we continue to develop our business in new markets, we plan to further cooperation with the EBRD and ET ​​Solar”.

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