• Ukraine
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
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.
Scatec Solar
The holder of the loan, grant, or other investment.
  • Construction
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 3.01 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Sep 4, 2020

Disclosed by Bank Jun 26, 2019

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Project Description

According to FMO's website, this project provides financing to develop, construct and operate solar energy projects in the Ukraine, one of the core markets of Scatec Solar. The first tranche of FMO’s investment will (indirectly) fund a 30MW solar PV project in the Cherkasy region in Ukraine. Subsequent tranches of FMO funding will be deployed on 2 other solar PV projects under development by Scatec Solar in Ukraine.

This project has been assigned a B+ environmental and social risk rating.

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors

Scatec Solar is a Norwegian based integrated independent solar energy provider that delivers affordable, rapidly deployable and sustainable energy worldwide. A long term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants. Scatec has an established global presence in growth markets in the America’s, Africa and Asia. FMO invests through Scatec Solar Ukraine BV, which is a Dutch holding company providing equity funding to various greenfield PV solar projects in Ukraine. FMO will be a minority shareholder.

Contact Information

No project-specific contact information available at time of writing.