Kyiv-Based Horizon Capital Backs Notus Energy in Launching a 124 MW Wind Power Project in Ukraine as the First Investment from Horizon Capital Catalyst Fund, its Newest Fund
DAVOS, Switzerland, Jan. 20, 2026 /PRNewswire/ -- Horizon Capital, a leading private equity firm in Emerging Europe with $1.8 billion under management, announced the initial closing of its reconstruction-focused Horizon Capital Catalyst Fund ("HCCF", "Catalyst Fund") held today, together with its first transaction: backing Germany-based Notus Energy to finance a 124 MW Wind Power Project in the Odesa region, which is one of Ukraine's most advanced and well-structured ready-to-build renewable energy projects. Oleksii Sobolev, Minister of Economy, Environment and Agriculture of Ukraine joined both signing ceremonies.
The transaction represents the first investment from Horizon Capital's newly launched Catalyst Fund, which reached over 50% of its target size at Initial Closing, €152m of €300m. Catalyst Fund provides €20 to €50 million of growth capital per investment into asset-heavy strategic sectors that require significant capital today, including energy, digital infrastructure and construction.
Catalyst Fund will acquire a 45% stake in the Project, which is expected to mobilize over €220 million of total investment, including a structured debt package led by international development finance institutions, including EBRD, IFC, Swedfund, BIO, and Green for Growth Fund.
The Project is developed by Notus Energy, a German renewable energy player having implemented 1.6 GW of installed capacity globally, and it is among the most advanced and well-structured renewable energy projects in Ukraine. The Project is the first of three wind farms in Notus Energy's near-term Ukraine pipeline totaling approximately 300 MW, and part of a broader Ukrainian renewable development pipeline of over 1.3 GW across projects at different stages.
Beyond its strategic significance, the project delivers substantial ESG impact: it is expected to generate 378 GWh of clean electricity annually, enough to power 120,000 households, while reducing CO₂ emissions by approximately 244,000 tons per year. In addition, it will create over 300 jobs during construction and 50 permanent positions and is fully aligned with international E&S standards, ensuring best-in-class governance and sustainability practices.
Dmytro Boroday, Partner at Horizon Capital and Catalyst Fund Lead: "We are thrilled to join forces with Notus Energy for the implementation of their first wind energy project in Ukraine This Project is exactly the type of high-quality, bankable project the Catalyst Fund was built to back: it mobilizes large-scale capital now, for a critical sector of Ukraine's economy, sets a benchmark for international standards in the energy sector, and sends a powerful message of confidence in Ukraine's future. Partnering with Notus Energy demonstrates that Ukraine can attract high-quality global investors and substantial investments when projects are structured to international standards, protected by robust risk mitigation, and developed and backed by strong partners. By deploying catalytic equity, we aim to crowd in substantial follow-on capital into critical infrastructure that will power Ukraine's recovery and long-term growth."
Heiner Dietmar Roger, Founder and CEO of Notus Energy, commented: "We are honored to partner with Horizon Capital as this transaction marks a significant milestone for Notus Energy in the implementation of our first project in Ukraine. With the Catalyst Fund's investment, we have the equity backing to proceed ahead with the 124 MW project to deliver critical power capacity, create high-skilled technical jobs, and contribute to Ukraine's sustainability goals. We view Ukraine as a market with strong fundamentals for RES deployment, and this transaction lays the ground for Notus Energy to propel our mid-term development pipeline in Ukraine, with an ambition to reach 1.3 GW until 2030."
Implementation of the transaction is subject to execution of the definitive agreements and customary regulatory clearances.
About Notus Energy
Founded in 2001, owner-managed Notus Energy is a German-based developer, operator, and investor in renewable energy projects worldwide. With operations in 18 countries and a robust pipeline of wind and solar projects, Notus brings deep technical expertise and a long-term commitment to Ukraine's renewable energy sector.
About Horizon Capital
Horizon Capital is the leading private equity firm in Emerging Europe with over $1.8 billion in AUM from investors with a capital base exceeding $700 billion. The firm's investment strategy focuses on backing visionary entrepreneurs leading fast-growing businesses in Ukraine and Moldova. Horizon Capital-managed funds have invested in over 190 companies employing over 56,000 people. HCCF aims to reach its €300 million target fund size and stands as a testament to institutions uniting in support of Ukraine's promising future.
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SOURCE Horizon Capital
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