Oviodiopol Energies LLC - Notus Energy
BIO has granted a EUR 7M junior loan to Ovidiopol Energies LLC, for the construction of a 120 MW wind farm in Ukraine.
Amount
€ 7,000,000.00
Type of investment
Debt
Development impacts
- Fight against climate change
- Access to basic services & goods
- Local economic growth
Beneficiary locations
Investment field
Infrastructure
Activity
Renewable energy, wind
Organisation
Oviodiopol Energies LLC - Notus Energy
Domicile
Rationale
This loan aims to support the financing of a 120 MW wind power project. This marks an important milestone toward the conclusion of the investment. BIO’s financing is provided alongside fellow development finance institutions, including Swedfund, the EBRD, and the IFC. In addition, the investment is expected to benefit from a first-loss guarantee from the European Union under its Ukraine Investment Framework (UIF).
Development impacts
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Fight against climate change
Low-carbon energy production - The project will install 120 MW of wind capacity, delivering substantially lower emissions than fossil‑fuel and thermal power generation. It is expected to avoid approximately 145,000–165,000 tCO₂ equivalent annually, supporting Ukraine’s NDC goal of a 65% reduction in emissions by 2030. At a critical stage of national reconstruction, it promotes a transition to clean energy while decreasing both the carbon intensity and geopolitical vulnerability of an energy system historically reliant on imported fossil fuels.
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Access to basic services & goods
Access to on‑grid power generation benefits – While the electricity is supplied to an industrial off‑taker, the project will inject into the national grid an amount equivalent to the annual consumption of approximately 130,000–150,000 Ukrainians. This delivers broader system-level benefits by helping to ease power shortages, reduce the frequency of blackouts, and restore a reliable baseline of energy access. In doing so, it also supports vulnerable populations who depend heavily on public infrastructure, healthcare systems, heating, and other essential services.
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Local economic growth
Reconstruction in a (post-)conflict context – In a setting where around 60% of Ukraine’s power generation capacity has been disrupted—resulting in a structural deficit of roughly 35% and widespread outages—the project will deploy 120 MW of decentralized wind capacity, complemented by a 35/110 kV substation and 8 km of transmission infrastructure. This investment contributes directly to rebuilding the electricity system, enhancing grid connectivity and resilience, and improving supply reliability for both industrial and residential users.
Power-enabling effects – By supplying an estimated 332–378 GWh of affordable renewable electricity annually to the grid, the project helps to reduce the structural power deficit and mitigate blackouts. Wind power, being among the lowest-cost new generation options in Ukraine, provides the stable and competitively priced energy needed to drive industrial recovery, restart businesses, create jobs, and attract long-term investment. These power-enabling effects are expected to support more than 2,000 indirect jobs and generate approximately USD 31 million in annual value added for the domestic economy.
E&S classification of the project: B+
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