Ukraine’s Mount Runa at risk: Why the EBRD and Oschadbank wind farm investment sets a dangerous precedent

Mount Runa wind project site from above, June 2025 (photo: Mark Melnychenko).

Issue paper    |    27 August 2026

This issue paper examines the environmental and social risks associated with the planned 156-megawatt Mount Runa wind farm in the Ukrainian Carpathians and the role of financing provided by the European Bank for Reconstruction and Development (EBRD) – through its Energy Security Support Facility – and Oschadbank. 

It highlights concerns over the project’s potential impacts on valuable ecosystems, forests, water resources, protected species and habitats, as well as issues arising from the fragmentation of the project’s environmental impact assessment, including the exclusion of associated infrastructure such as access roads and power lines. 

The paper also details the environmental and social risk requirements applicable to EBRD intermediary financing, arguing that the Mount Runa case highlights broader challenges around cumulative impact assessment, biodiversity protection and safeguard enforcement in Ukraine’s renewable energy development. 

Finally, it provides recommendations for strengthening environmental protection, improving spatial planning for renewable energy, and ensuring that future investments in Ukraine’s green recovery avoid ecologically sensitive areas and comply with robust environmental and social standards. 

This publication is also available in Ukrainian.