Raiffeisen Bank Aval provides the company "gals agro" 10 million euros for the construction of biogas plants
Kiev. 10 Oct. - Raiffeisen Bank Aval and gals agro have signed a loan agreement in the amount of EUR 10 million under the renewable energy project financing programme.
The loan funds will be used by the agricultural holding for the construction and commissioning of 3 biogas plants with a total capacity of 6 MW in Chernihiv and Kiev regions. Biogas plants will operate one of the companies of the holding — "Horodyshche-pustovarivs'ke agricultural company".
«"Gals agro" expands the field of its activities. Now the company's business chains will include a component of bioenergy and electricity generation. This will allow more efficient use of the company's potential, increase income from existing assets", — said the Director of the agricultural holding Sergey Kravchuk.
"Raiffeisen Bank Aval considers the financing of projects aimed at improving energy efficiency as one of its priorities. We supported this project, as it is a natural step in the innovative development of agricultural holding and can serve as an example of the introduction of advanced solutions for the industry", — said the Director of corporate business of the Bank Ruslan Spivak.
Biogas will be produced by "gals agro" from organic waste of agriculture and sugar production — sugar beet pulp, silage of energy crops, manure of cattle and pigs. In total, it is planned to produce 23.3 million cubic meters of biogas per year, of which it is possible to produce 51.5 million kWh of electricity for sale at the "green tariff".
The heat obtained in the production process will be used for the needs of the holding: heating of livestock complexes and the development of greenhouses. The substrate fermented in the biogas plant will become a fertilizer for the cultivation of environmentally friendly products on agricultural land "gals agro".
The total cost of the project is about 17 million euros.
According to the calculations of the company's specialists, the project is profitable and cost-effective. This year it is planned to launch the first biogas plant in Chernihiv region, the second and third — in 2018.
Agricultural holding "gals agro" works in the agricultural market since 2000. Agricultural holding specializiruetsya on crop production, sugar production, growing turkeys, fattening pigs, dairy production. In Kiev, Chernihiv and Vinnytsia regions agricultural company effectively handles almost 40 000 hectares of land. "Gals agro" today among the 5 leading Ukrainian producers of sugar, the three largest producers of Turkey meat. In 2017, the holding launched new projects in horticulture and alternative energy.
Raiffeisen Bank Aval was registered on 27 March 1992. Since October 2005, the Bank has been part of the Austrian banking group Raiffeisen Bank international AG. As of June 30, 2017, RBI owns 68.28% of the Bank's shares, the European Bank for reconstruction and development — 30%.
A wide range of banking services is provided to more than 2.5 million customers of Raiffeisen Bank Aval through a nationwide network, which includes about 500 branches throughout Ukraine.
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