GOLDBECK SOLAR Investment strengthens its commitment to Ukraine with the establishment of GOLDBECK SOLAR Investment Ukraine

GOLDBECK SOLAR Investment Ukraine to develop 500 MWp of solar projects

GOLDBECK SOLAR Investment Ukraine plans to realize up to 500 MWp of solar projects in Ukraine in the next three to five years. Planning for the construction of the first solar park is set to begin in the fall of 2024. The cooperation with the EBRD is a significant milestone. As EBRD’s first equity deal in Ukraine’s energy sector since the full scale invasion, it underlines the economic viability of the investment case, and highlights the continued role of GOLDBECK SOLAR as a trusted partner of EBRD after previous debt financing transactions in Poland and Kazakhstan. Completion of the transaction is subject to the usual regulatory approvals.

Joachim Goldbeck, CEO of the GOLDBECK SOLAR Group, commented: “We are very proud to support Ukraine in the expansion of their electricity grid based on renewable energy technologies. We are aware of the risks posed by the current political situation; nonetheless, we recognize that Europe’s future is linked to that of Ukraine and thus we need to set an example today. We are delighted to have an experienced partner at our side in the EBRD, with whom we have partnered in several other deals in the region.”

Olga Kovalchuk, Managing Director at GOLDBECK SOLAR Investment Ukraine, adds: “This joint venture marks an important step for our company and for Ukraine. With our experience and the resources of the EBRD, we can make significant progress in the renewable energy sector. We see great potential in Ukraine and are confident that our actions will make a sustainable contribution to the country’s energy supply but also encourage other companies to follow in our path.”

Arvid Tuerkner, Managing Director for Ukraine and Moldova at EBRD, said “We welcome this project, which has made it possible to bring in and facilitate a key cross-border investment for Ukraine, leveraging the EBRD’s experience and very strong presence in the country.“

Grzegorz Zielinski, Director of Energy Europe at EBRD, added “We are very excited to partner with GOLDBECK SOLAR Group, an experienced global renewable developer in supporting Ukraine’s green future, “building back better”, in these difficult times. We believe EBRD’s holistic approach toward Ukraine’s energy sector, from both public and private levels, will catalyze further investments into the sector.”

DEG loan to support green energy projects in Ukraine

GOLDBECK SOLAR Investment has signed a loan of 5 million euros from DEG – Deutsche Investitions- und Entwicklungsgesellschaft for its commitment in Ukraine through the ImpactConnect program, which was initiated and funded by the German Federal Ministry for Economic Cooperation and Development (BMZ). The program aligns with GOLDBECK SOLAR’s goal of developing green energy projects that have a positive impact on the community.

Cooperation with the Ukrainian government

As part of the Ukraine Recovery Conference taking place in Berlin, Joachim Goldbeck, CEO of the GOLDBECK SOLAR Group and Svitlana Grynchuk, Deputy Minister of Energy of Ukraine, signed a Memorandum of Understanding (“MoU”) between GOLDBECK SOLAR Investment GmbH and the Ministry of Energy of Ukraine. This MoU includes a joint commitment to collaborate in several areas and activities, with the aim to promote private sector investment in the renewable energy sector in Ukraine. The signing ceremony was accompanied by German Galushchenko, the Minister of Energy of Ukraine, and the Parliamentary State Secretary from the Federal Ministry for Economic Affairs and Climate Action.