Case Study

Solar energy project in Belarus

The second largest solar plant in Belarus is located in village Polykovichi, Mogilev region. Its owner, sole proprietor Mr Zharinov has been one of the active renewable energy developers in Belarus.

Earlier Mr Zharinov applied for BelSEFF financing for the construction of an on-ground 1.7 MW solar photovoltaic unit.
The BelSEFF team assessed the project idea, energy generation potential, technical-financial parameters, implementation schedule and risks of the project.
The €2.2 million loan allowed the company to generate 1,600 MWh per year. All the produced electricity is supplied into the grid, thus, the company benefits from the feed-in tariff for renewable energy.
The investment will be repaid in slightly over six years. What is more important is that the investment creates independent and renewable energy source for the region and the country, allowing to diversify the country’s energy balance and enhance the energy independence. In addition, the project allows to decrease the CO2 emissions by substantial 770 tonnes of CO2 per year, making its valuable contribution to mitigate the negative results of human activity on the climate.
Renewable energy and solar energy in particular has become a trend in Belarus, with more and more companies investing into solar installations and selling energy into the grid. Although this sector is still at the initial development stage, the direction chosen is highly perspective. BelSEFF is present on the market to support with financing and advisory package.