Polish developer Grupa Mosty expects to secure financing for a 162 MW wind farm in southern Ukraine by the third quarter of 2027 and complete construction by the end of 2028, company executives told Ukraine Rebuild Newswire.
The Warsaw-based company plans to install 36 Vestas turbines, each with a capacity of 4.5 MW, at its Mayaki Wind Farm in the Odesa region. It expects the project to reach ready-to-build status in the first quarter of 2027.
Mosty secured a 162 MW allocation at a price of 7 euro cents per kilowatt-hour in Ukraine’s Sept. 30 renewable energy support auction, which attracted bids for more than 1.2 GW of wind capacity against a 700 MW quota.
The company’s allocation was the second-largest after state-owned Naftogaz, which secured 300 MW.
Mosty CFO Jacek Skrabacz told URN that his company is pursuing several financing structures but faces a limited pool of institutions willing to fund renewable energy projects in wartime Ukraine.
“At present, the pool of financing institutions willing to participate in renewable energy projects in Ukraine remains relatively limited,” Skrabacz said.
The company is seeking financial close in the second or third quarter of 2027. It did not identify prospective lenders, disclose the project’s investment cost or specify how it intends to insure against war risks.
Construction contracts under discussion
Mosty CEO Andrzej Michał Kowalik said the company is discussing contracts for civil works, electrical infrastructure and turbine installation with potential contractors.
“The execution of the relevant contracts is planned immediately following the signing of the turbine supply agreement,” Kowalik told URN.
Construction will include turbine foundations, crane hardstands, assembly areas and grid connection infrastructure. Subject to the turbine supply agreement and construction schedule, Mosty expects installation and commissioning to be completed by the end of 2028.
The company has been developing Mayaki since 2022. An environmental impact assessment conclusion was issued for the 162 MW project in August 2026, according to the Odesa district administration.
Battery energy storage
Mosty also plans to add battery energy storage after commissioning the wind farm to improve operational flexibility and optimize electricity use. It has not disclosed the proposed storage capacity.
Kowalik said the auction outcome would help attract financing, although the company’s support contract has not yet been shown as signed on the auction platform.
“An awarded contract would enhance the bankability of the project, strengthen confidence among potential lenders and investors,” he said.
The Mayaki project is being developed as a standalone investment. Separately, a Mosty-affiliated company has filed plans for a 900 MW South Dniester wind farm in Odesa region, according to an August environmental notice.
The company has not announced a construction timetable or financing arrangements for that larger development.