I&U Group received 15 million dollars from the EBRD for biogas complex construction

 

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I&U Group agrarian holding received 15 million dollars from the EBRD to finance the development, construction and operation of 6 MW biogas complex in Kirovograd region.

The EBRD Senior Advisor on Eastern Europe and Kazakhstan Anton Usov reported about it on his Facebook-page.

The financing package will include an EBRD loan of EUR 13 million and Clean Development Facility (FTT) soft loan of EUR 2 million.

«It will be the first project in Ukraine with the use of innovative gas production technology that will reduce energy consumption. The balances from biogas production will be used as biofuels, which will partially replace chemical fertilizers», — noted Anton Usov.

Implementation of the project will result in a total reduction of CO2 emissions by 24 thousand tonnes per year. The project will receive a stimulus grant of $ 534,8 thousand within the framework of the EBRD program «Finance and Technology Transfer Centre for Climate Change» (FINTECC). A grant of EUR 22,15 thousand from the European Union Investment Fund is also to be received.

I&U Group (former «Agrospecservice») is an agrarian holding, which has been implementing various agricultural projects in Ukraine for more than 20 years. The company is engaged in the cultivation of cereals, oilseeds and sugar beet in Kirovograd region. The land bank is about 50 thousand hectares. I&U Group is focused on grain exports, it is one of five the most effective crop producers in Ukraine, and it exports 40% of all sugar produced in Ukraine.


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