Astarta will receive USD 12 M from EBRD as a part of its sustainable energy promotion program. The funds attracted will be used for increasing the use of renewable energy at a key sugar plant of the holding, particularly LLC APO “Tsukrovyk Poltavschyny” (Poltava region, central Ukraine). As the European Bank for Reconstruction and Development reported, the fifth EBRD transaction with Astarta will focus on the increased use of renewable energy in the production cycle, an important development in sugar production, which is a particularly energy-intensive industry. A newly-built bio-gas plant at “Tsukrovyk Poltavschyny” will process 120,000 tons of beet pulp every year and yield around 14.4 million cubic meters of bio-gas, which will lower Astarta’s annual gas consumption by 7.7 M cubic meters.

Once the project is implemented, it will allow Astarta’s main sugar plant to decrease natural gas consumption by 46%, water consumption by 10% and to achieve a reduction of greenhouse gas (GHG) emissions of around 15,000 tons of CO2 per year. It is also expected that further GHG emission reductions will reach up to 35,000 tons per year.

AgroInvest comment: Astarta’s effort aimed at modernization of the existing facilities will not go unnoticed as aside more obvious increase of the effectiveness of company’s operations it will also lead to better recognition amongst investors globally, having positive impact on future work.     

For more detail please refer to the UAIndex Daily (September 04 issue).

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