Lithuanians investing EUR 100 mln into wind energy in Ukraine (media)

VILNIUS – Lithuanian-capital company Yuzhne Energy starts the construction of a 70MW wind farm in Ukraine, the vz.lt news website reports.

The company's manager Egidijus Simutis says over 100 million euros will be invested into a wind farm of 19 units in Odessa region.

The park is set to come online by the end of this year.

"Wind projects are very popular in Ukraine due to a favorable tariff and profitability. If our project is successful, we estimate that it will become profitable in six years. But we are aware of political and other risks when making this investment. The success of this process will determine our future investment into wind energy projects in Ukraine," Simutis told vz.lt.

In his words, the Yuzhne Energy wind farm will be funded by shareholders, including a group of Lithuanian natural and legal persons, with the helf of a Canadian investor and bank loans. He did not disclose the investors.