The European Bank for Reconstruction and Development (EBRD) is ready to invest in the development of renewable energy in Ukraine, EBRD's Regional Manager and Director for Ukraine Andre Kuusvek said at a conference dedicated to the Second European-Ukrainian Energy Day, which is taking place in Kyiv.

"We would like to finance private enterprises that offer renewable energy projects," he said.

Kuusvek said that the bank had currently received 37 applications for wind, small hydropower, and bioenergy. "I think that this will turn into concrete projects, and this will happen very soon," Kuusvek said.

At the same time, the EBRD reported that it was too early to talk about the funding of the projects, since not all of these applications would turn into deals. In addition, the EBRD has not envisaged a fixed amount in its budget for projects in the field of renewable energy in 2011.

The European Bank for Reconstruction and Development is the largest financial investor in Ukraine. As of April 30, 2011, the bank had invested over EUR 6.2 billion (USD 9.2 billion) in 271 projects.

UKRINFORM