Norwegian company secures funds for Ukrainian solar project

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Scatec Solar ASA (OSL:SSO) of Norway has secured the needed funds for the 30-MW Kamianka photovoltaic (PV) project in Ukraine. According to RenewablesNow,construction of which will start in early 2019.

The project will receive non-recourse debt financing totalling EUR 24.5 million (USD 28m) from the European Bank for Reconstruction and Development (EBRD) and Dutch development bank FMO.

The syndicated loan, arranged by the EBRD, will cover 70% of the overall project costs. It includes an A Loan of EUR 12.25 million by the EBRD and a B Loan of the same amount by FMO.

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