DTEK all in on wind auction
Ukraine's largest private power developer DTEK was the sole bidder in the government's latest wind auction, scoring a 12-year fixed-tariff offtake for 150MW of its 498MW Tyligulska wind project.
DTEK placed 25 identical bids of 6MW each all for the Tyligulska project at €79.6/MWh, nearly matching the auction strike price of €80/MWh. The remainder of the project's revenue stream is structured as a power purchase agreement with D.Trading, one of DTEK’s companies.
The company signed a fully covered €370m non-recourse project financing via Danske Bank in January to add 384MW of capacity to the operational 114MW capacity of the wind farm, which is on the Black Sea coast in the Mikolayiv region.
The 12-year debt tenor matches that of the new government-backed offtake, with the loan including a two-year grace period and a full guarantee from Danish export credit agency EIFO. Danish wind turbine supplier Vestas has been selected to supply 64 6MW turbines for the wind farm expansion.
