USELF: Ovidiopol Wind (EBRD-50540)

Countries
  • Ukraine
Where the impacts of the investment may be experienced.
Specific Location
Town of Ovidiopol in the Odessa region
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 30, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Ovid Wind LLC
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.66 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 18.5
Converted using 2019-05-28 exchange rate.
Project Cost (USD)
$ 71.59 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 64.1
Converted using 2019-05-28 exchange rate.
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 5, 2019

Disclosed by Bank May 28, 2019


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Project Description

According to the Bank's website, this project provides financing for the development, construction and operation of a wind farm near the town of Ovidiopol. This is part of the parent project: Ukrainian Sustainable Energy Lending Facility III. 

According to the Bank's website, the project will not be associated with any physical displacement and the turbines are located away from residential areas. 

A Non-Technical Summary has been developed for the Project but is not available on the original disclosure web page. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)

The project financing will be complemented by approximately €24.5mn of parallel loans provided by other development finance institutions.

Private Actors

Ovid Wind LLC is a special purpose vehicle incorporated in Ukraine for the purpose of developing, constructing and operating the project. The company is ultimately owned and controlled by Guris Holding A.S. ve Istirakleri.

Guris Insaat ve Muhendislik A.S. is the main operating entity of the Holding. 

Contact Information

Derya Sözen Önder
donder@guris.com.tr
+90 (312) 484 0570
+90 (312) 484 2677
www.guris.com.tr
ANKARA CADDESI NO: 222 KARAOGLAN MAHALLESI GOLBASI 06830 ANKARA/TURKIYE

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.