EBRD Provides Loan For Ukrainian Ethanol Project
The European Bank for Reconstruction and Development will loan EUR 60 million to Lan-Oil LLC in Ukraine for a greenfield ethanol project. Sponsored by SC Concern Galnaftogaz and OKKO Group, the project aims to cut greenhouse gas emissions by 70%, aligning with EU’s RED III. JSC Concern Galnaftogaz, owner of 396 OKKO stations, is involved, highlighting EBRD’s support for Ukraine’s energy security and decarbonization efforts.
The European Bank for Reconstruction and Development on June 12 announced it will provide a EUR 60 million loan to Ukraine-based Lan-Oil LLC to support the development of a greenfield ethanol project.
The project is expected to contribute to both Ukraine’s energy security and decarbonization efforts. Ethanol produced at the plant is expected to achieve a 70% greenhouse gas (GHG) emissions reduction when compared with fossil fuels. Biofuel produced at the plant is also expected to be compliant with the European Union’s Renewable Energy Directive (RED III).
The project is sponsored by SC Concern Galnaftogaz and OKKO Group, a leading distributor of transportation fuels in Ukraine. As of December 2023, JSC Concern Galnaftogaz owned and operated 396 OKKO-branded filling stations. It is a long-standing client of the EBRD.
Source Link : https://ethanolproducer.com/articles/ebrd-provides-loan-for-ukrainian-ethanol-project
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