In February 2021, OeEB signed a long-term financing of EUR 10.3 million to Hlyniany Energy LLC for the construction and operation of a 18.1 MW solar power plant in the Ukrainian Lviv region.

Project name Hlyniany Energy LLC

Southeast Europe


Energy / Resource efficiency / Infrastructure


Investment Finance

Project country Ukraine
OeEB project volume EUR 10.3 million
Project partner(s) Hlyniany Energy LLC

The Ukrainian government aims to diversify the country’s energy mix in order to reduce dependence on energy imports and strengthen energy security. This has led to a decline in energy consumption as well as an expansion of local energy sources within recent years - especially in the renewable energy sector.

With the planned financing of the 18 MW Hlyniany 2 photovoltaic system, OeEB supports the expansion of renewable energy resources in Ukraine. This will improve energy supply in the country, which will promote further economic development. In addition, the reduction of greenhouse gas emissions contributes to climate protection.

Hlyniany II is a project of the Ukrainian group ECO Optima which has already implemented renewable energy projects with a total of 154 MW installed capacity. The project includes the development, construction and operation of a photovoltaic system with a total installed capacity of 18MW in the Lviv region. The power plant is to produce 19.5 GWh of electricity annually, which will supply more than 6,000 households with green energy and save 300,000 tons of Co2.