Horizon Capital has completed the initial closing of its reconstruction-focused Horizon Capital Catalyst Fund and announced the financing of supporting Notus Energy’s 124 MW wind power project in Ukraine’s Odesa region. The Catalyst Fund has reportedly reached more than half of its target size at initial closing, securing about €152 million against a target of around €300 million. The fund is designed to provide growth capital of approximately €20 million to €50 million per investment across asset-intensive sectors, including energy, digital infrastructure, and construction.
Under the transaction, the Catalyst Fund will acquire a 45 per cent stake in the wind project, which is expected to mobilise total investments exceeding €220 million. The overall financing package includes structured debt led by international development finance institutions, namely the European Bank for Reconstruction and Development, the International Finance Corporation, Swedfund, BIO, and the Green for Growth Fund. The project forms part of a Notus Energy’s pipeline of three wind farms in Ukraine totalling around 300 MW and a broader renewable development pipeline exceeding 1,300 MW at various stages.
Furthermore, the wind project is expected to generate about 378 GWh of electricity annually, supplying power to nearly 120,000 households. It will offset around 244,000 tonnes of carbon emissions annually. Moreover, completion of the transaction remains subject to the execution of definitive agreements and the receipt of customary regulatory approvals.