The Green for Growth Fund (GGF), to which the EU is a donor, has invested in a solar farm in Ukraine in partnership with the local ProCredit Bank.
The farm, which has a 7 MW capacity, was built in the village of Plyskiv by the Plyskiv energy company and its parent Tristar. This has not only contributed to the development of clean energy in the country, but has also brought with it many benefits for the local community, which now plans to welcome further green energy installations.
Ukraine has significant untapped potential for implementing renewable energy solutions and has set itself a target of increasing the share of renewable energy in its total supply to 25% by 2035. The GGF is playing its role in helping Ukraine realise this goal by directly investing in renewable energy projects, as well as by channelling investments into such projects through its local partner institutions, including ProCredit Bank.
This is one of the success stories featured in the recently released GGF Impact Report for 2018. The report provides glimpses of the fund’s impact in terms of energy savings, CO2 emissions reduction and installation of renewable energy generation capacity. For example, the annual reductions in CO2 emissions realised through the GGF’s investments roughly translate into taking 460,000 cars off the road.
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