With an investment strategy centred on large scale renewable energy projects in Europe and selected global markets, the highly experienced Fund Management team is able to access high-quality projects, many of which are “off-market”.

The team has already secured a number of Low Carbon projects and continues build a portfolio diversified across geography, technology, currency and offtake arrangements.

A significant current project is the Zaporizhia onshore wind farm in southeast Ukraine. The 98MW wind farm is now fully operational and supplying clean, renewable energy to the grid.

Project: The Zaporizhia wind farm

Low Carbon, in partnership with Vitol, LongWing Energy S.C.A. (LongWing) and GE, announced in May 2021 the commissioning of the first phase of the Zaporizhia onshore wind farm.

The operational wind farm has an installed capacity of 98MW and has the potential to generate enough clean energy to power more than 170,000 homes.*

Phase I was sponsored by LongWing and VLCR with GE EFS as a preferred equity investor. Senior debt financing was provided by United States International Development Finance Corporation (DFC), the U.S. development bank, formerly Overseas Private Investment Corporation.

The transaction is one of the first international project finance transactions in the Ukrainian renewable energy sector to be financed on an international non-recourse project financing basis.

 

 

* Internal Low Carbon calculations; UKRSTAT

Operational capacity: 98MW
The operational wind farm has a total capacity of 98MW. There is an option to develop the site to a total of 500MW which could make the Zaporizhia wind farm one of the largest operating onshore wind sites in Europe.

Turbines: 27
Power is being generated by 27 3.6MW GE Renewable Energy onshore wind turbines with a rotor diameter of 137 meter and a hub height of 110 meters.

Power Purchase Agreement (PPA): Guaranteed Buyer
The wind farm sells its power through a Power Purchase Agreement (PPA) with the Ukrainian state enterprise Guaranteed Buyer at a set Feed-in Tariff.

Homes powered: 170,000
The wind farm is expected to generate enough energy each year to power more than 170,000 homes. In the first three months of operation alone, the Zaporizhia wind farm generated enough clean energy to avoid the emission of more than 40,000 tonnes of CO2e.

Projects