Horizon Capital Partners with Notus Energy on Ukraine's 124 MW Wind Project
Horizon Capital, a prominent player in the private equity landscape of Emerging Europe with assets totaling $1.8 billion, has recently made headlines with its substantial investment initiative in Ukraine. The firm announced the initial closing of its Horizon Capital Catalyst Fund (HCCF), aimed at channeling capital towards reconstruction and development projects within the region. The first deal under this new fund involves backing Notus Energy, a German-based renewable energy developer, for the financing of a 124 MW wind power project located in the Odesa region of Ukraine—one of the country’s most promising renewable energy landscapes.
This transaction marks a significant milestone, representing not only the launch of the Catalyst Fund but also a crucial step towards enhancing Ukraine's renewable energy infrastructure. Notus Energy, with a proven track record of implementing 1.6 GW of installed capacity globally, is poised to lead this initiative. The project is expected to attract a total investment exceeding €220 million, supported by a structured debt package facilitated by notable international development finance institutions such as EBRD (European Bank for Reconstruction and Development), IFC (International Finance Corporation), Swedfund, and BIO (Belgian Investment Company for Developing Countries), alongside the Green for Growth Fund.
Horizon Capital will own a 45% stake in this groundbreaking project, which is one of three wind farms in Notus Energy's immediate pipeline in Ukraine, collectively developing around 300 MW in total. Beyond just financial backing, the project promises substantial environmental and social governance (ESG) benefits, projected to generate approximately 378 GWh of clean electricity each year. This energy output is sufficient to power about 120,000 households, significantly contributing to the reduction of CO₂ emissions by around 244,000 tons annually. Furthermore, the construction phase alone is expected to create more than 300 jobs, alongside 50 permanent positions post-completion.
Dmytro Boroday, a Partner at Horizon Capital and Lead for the Catalyst Fund, expressed enthusiasm regarding the partnership with Notus Energy. He highlighted that this project epitomizes the Catalyst Fund’s mission to support high-quality, financially viable investments that will facilitate capital mobilization for essential sectors within Ukraine's economy. The endeavor not only represents an opportunity for substantial investment returns but also reinforces international confidence in Ukraine’s future.
Heiner Dietmar Roger, the founder and CEO of Notus Energy, echoed the sentiment, stating that this partnership signifies a pivotal moment for the company as they expand their footprint in Ukraine. With the support of the Catalyst Fund, Notus Energy is equipped to advance its first project in the region and contribute substantially to the country’s sustainability targets. The vision is ambitious, aiming for a total of 1.3 GW of renewable energy capacity by 2030, thus establishing a strong foundation for the future development of renewable energy projects in Ukraine.
The implementation of the partnership and project is contingent upon the successful execution of definitive agreements and the completion of customary regulatory clearances. Established in 2001, Notus Energy has cultivated extensive expertise in renewable energy projects globally. Meanwhile, Horizon Capital continues its legacy as a leading private equity firm in Emerging Europe, emphasizing investments that support visionary entrepreneurs in growth sectors across Ukraine and Moldova. The Horizon Capital Catalyst Fund represents a significant step towards achieving a robust, sustainable energy sector in Ukraine, showcasing the potential for international collaboration in driving the country’s growth and recovery.
This partnership is not merely about financial investment; it symbolizes a beacon of hope and confidence in Ukraine’s ability to attract global investors, laying the groundwork for a stable and sustainable future in the realm of renewable energy. Together with Notus Energy, Horizon Capital is set on a path that could transform the energy landscape of Ukraine, supporting its recovery and long-term development goals.
This transaction marks a significant milestone, representing not only the launch of the Catalyst Fund but also a crucial step towards enhancing Ukraine's renewable energy infrastructure. Notus Energy, with a proven track record of implementing 1.6 GW of installed capacity globally, is poised to lead this initiative. The project is expected to attract a total investment exceeding €220 million, supported by a structured debt package facilitated by notable international development finance institutions such as EBRD (European Bank for Reconstruction and Development), IFC (International Finance Corporation), Swedfund, and BIO (Belgian Investment Company for Developing Countries), alongside the Green for Growth Fund.
Horizon Capital will own a 45% stake in this groundbreaking project, which is one of three wind farms in Notus Energy's immediate pipeline in Ukraine, collectively developing around 300 MW in total. Beyond just financial backing, the project promises substantial environmental and social governance (ESG) benefits, projected to generate approximately 378 GWh of clean electricity each year. This energy output is sufficient to power about 120,000 households, significantly contributing to the reduction of CO₂ emissions by around 244,000 tons annually. Furthermore, the construction phase alone is expected to create more than 300 jobs, alongside 50 permanent positions post-completion.
Dmytro Boroday, a Partner at Horizon Capital and Lead for the Catalyst Fund, expressed enthusiasm regarding the partnership with Notus Energy. He highlighted that this project epitomizes the Catalyst Fund’s mission to support high-quality, financially viable investments that will facilitate capital mobilization for essential sectors within Ukraine's economy. The endeavor not only represents an opportunity for substantial investment returns but also reinforces international confidence in Ukraine’s future.
Heiner Dietmar Roger, the founder and CEO of Notus Energy, echoed the sentiment, stating that this partnership signifies a pivotal moment for the company as they expand their footprint in Ukraine. With the support of the Catalyst Fund, Notus Energy is equipped to advance its first project in the region and contribute substantially to the country’s sustainability targets. The vision is ambitious, aiming for a total of 1.3 GW of renewable energy capacity by 2030, thus establishing a strong foundation for the future development of renewable energy projects in Ukraine.
The implementation of the partnership and project is contingent upon the successful execution of definitive agreements and the completion of customary regulatory clearances. Established in 2001, Notus Energy has cultivated extensive expertise in renewable energy projects globally. Meanwhile, Horizon Capital continues its legacy as a leading private equity firm in Emerging Europe, emphasizing investments that support visionary entrepreneurs in growth sectors across Ukraine and Moldova. The Horizon Capital Catalyst Fund represents a significant step towards achieving a robust, sustainable energy sector in Ukraine, showcasing the potential for international collaboration in driving the country’s growth and recovery.
This partnership is not merely about financial investment; it symbolizes a beacon of hope and confidence in Ukraine’s ability to attract global investors, laying the groundwork for a stable and sustainable future in the realm of renewable energy. Together with Notus Energy, Horizon Capital is set on a path that could transform the energy landscape of Ukraine, supporting its recovery and long-term development goals.
Topics Energy）
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