The International Finance Corporation (IFC) has agreed to lend the Vinnytsia Poultry Farm of MHP Group in Ukraine up to $30 million (€28.4 million) for the modernisation and expansion of a plant that produces biomethane from agricultural waste.
The IFC board of directors approved the project on September 21.
The company already operates two biogas plants that process manure from its farms into green energy.
MHP Group plans to enhance biomethane production by modernising and expanding its biogas facilities in multiple stages.
The first stage involves modernising existing facilities in order to produce 14,000 tonnes of liquefied methane per year, and the second involves expanding capacity to 20.5 MW.
The overall cost of the project is $52 million (€49.2 million), part of which MHP expects to finance with its own funds.
The project is also expected to receive guarantees for $15 million (€14.2 million) from the European Fund for Sustainable Development Plus, the United Kingdom and other donors.
The 12 MW biogas plant in Vinnytsia region began operation in 2019 and is the largest in Ukraine.
Ukrainian poultry farm receives €28.4m loan for biogas plant upgrades
