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CMS advises on 47 MW investment in solar power project

10/ 07/ 2018
  CMS has advised Scatec Solar ASA (Scatec Solar), a Norway-based solar power developer, on acquisition of a stake in solar projects portfolio from Rengy Development, one of the largest developers and independent solar power producers in Ukraine, with the aim to build solar power plants with the total capacity of 47 MW in the Mykolaiv region of Ukraine. As part of this transaction, Scatec Solar will own 51% of the business and Rengy Development will own the balance. Total capex for the projects is estimated at EUR 52 million. The start of construction is expected later in 2018 and commercial operation in 2019. CMS team advised its long-standing client Scatec Solar on due diligence of the projects and Ukrainian and English law aspects of transactional documents. Vitaliy Radchenko, partner and head of Energy and Projects practice in Ukraine, together with Natalia Kushniruk, senior associate and Real Estate practice coordinator, led this transaction with support from Ihor Pavliukov, Tetyana Dovgan, Vitalii Mainarovych, Diana Pysarenko, Khrystyna Korpan, Maryna Ilchuk, Volodymyr Kolvakh, Viktoriia Stavchuk, Kateryna Chechulina and with further support from Graham Conlon and Valentina Santambrogio on English law aspects of the transaction. Vitaliy Radchenko commented: “We are excited to witness further development of solar projects portfolio by our client Scatec Solar in Ukraine. It shows commitment and confidence in the market and country. It is a great honour for us to play an active role in further improving Ukraine’s energy independence”. - END - For more information and/or interviews, please contact: Darina Gordienko CMS Cameron McKenna Nabarro Olswang E: [email protected] / +38044 3913377 Information about Worldwide CMS: CMS provides clients with specialist, business-focused advice in law and tax matters. With our 4,500 legal professionals across the world, working in sector-based teams and expert in project management, our focus is on our clients and fulfilling their objectives. CMS is a full-service top 10 global law firm, based on the number of lawyers (Am Law 2017 Global 100). With 74 offices in 42 countries across the world, revenues totalled €1.01bn in 2016. CMS acts for the majority of the DAX 30, a large number of the FT European 500 and a number of Fortune 500 companies. CMS provides a wide range of expertise across 19 expert practice and sector areas including Banking and Finance, Commercial, Competition, Corporate, Dispute Resolution, Employment, Energy, Funds, Intellectual Property, Life Sciences/ Pharmaceuticals, Real Estate & Construction, Tax and TMT. CMS offices and associated offices: Aberdeen, Algiers, Amsterdam, Antwerp, Barcelona, Beijing, Belgrade, Berlin, Bogotá, Bratislava, Bristol, Brussels, Bucharest, Budapest, Casablanca, Cologne, Dubai, Dusseldorf, Edinburgh, Frankfurt, Funchal, Geneva, Glasgow, Hamburg, Hong Kong, Istanbul, Kyiv, Leipzig, Lima, Lisbon, Ljubljana, London, Luanda, Luxembourg, Lyon, Madrid, Manchester, Medellín, Mexico City, Milan, Moscow, Munich, Muscat, Paris, Podgorica, Poznan, Prague, Reading, Rio de Janeiro, Rome, Santiago de Chile, Sarajevo, Seville, Shanghai, Sheffield, Singapore, Sofia, Strasbourg, Stuttgart, Tirana, Tehran, Utrecht, Vienna, Warsaw, Zagreb and Zurich. For more information, please visit www.cms.law

CMS has advised Scatec Solar ASA (Scatec Solar), a Norway-based solar power developer, on acquisition of a stake in solar projects portfolio from Rengy Development, one of the largest developers and independent solar power producers in Ukraine, with the aim to build solar power plants with the total capacity of 47 MW in the Mykolaiv region of Ukraine. As part of this transaction, Scatec Solar will own 51% of the business and Rengy Development will own the balance. Total capex for the projects is estimated at EUR 52 million. The start of construction is expected later in 2018 and commercial operation in 2019.

CMS team advised its long-standing client Scatec Solar on due diligence of the projects and Ukrainian and English law aspects of transactional documents.

Vitaliy Radchenko, partner and head of Energy and Projects practice in Ukraine, together with Natalia Kushniruk, senior associate and Real Estate practice coordinator, led this transaction with support from Ihor Pavliukov, Tetyana Dovgan, Vitalii Mainarovych, Diana Pysarenko, Khrystyna Korpan, Maryna Ilchuk, Volodymyr Kolvakh, Viktoriia Stavchuk, Kateryna Chechulina and with further support from Graham Conlon and Valentina Santambrogio on English law aspects of the transaction.

Vitaliy Radchenko commented: “We are excited to witness further development of solar projects portfolio by our client Scatec Solar in Ukraine. It shows commitment and confidence in the market and country. It is a great honour for us to play an active role in further improving Ukraine’s energy independence”.

– END –

For more information and/or interviews, please contact:

Darina Gordienko

CMS Cameron McKenna Nabarro Olswang

E: [email protected] / +38044 3913377

Information about Worldwide CMS:

CMS provides clients with specialist, business-focused advice in law and tax matters. With our 4,500 legal professionals across the world, working in sector-based teams and expert in project management, our focus is on our clients and fulfilling their objectives.

CMS is a full-service top 10 global law firm, based on the number of lawyers (Am Law 2017 Global 100). With 74 offices in 42 countries across the world, revenues totalled €1.01bn in 2016. CMS acts for the majority of the DAX 30, a large number of the FT European 500 and a number of Fortune 500 companies.

CMS provides a wide range of expertise across 19 expert practice and sector areas including Banking and Finance, Commercial, Competition, Corporate, Dispute Resolution, Employment, Energy, Funds, Intellectual Property, Life Sciences/ Pharmaceuticals, Real Estate & Construction, Tax and TMT.

CMS offices and associated offices: Aberdeen, Algiers, Amsterdam, Antwerp, Barcelona, Beijing, Belgrade, Berlin, Bogotá, Bratislava, Bristol, Brussels, Bucharest, Budapest, Casablanca, Cologne, Dubai, Dusseldorf, Edinburgh, Frankfurt, Funchal, Geneva, Glasgow, Hamburg, Hong Kong, Istanbul, Kyiv, Leipzig, Lima, Lisbon, Ljubljana, London, Luanda, Luxembourg, Lyon, Madrid, Manchester, Medellín, Mexico City, Milan, Moscow, Munich, Muscat, Paris, Podgorica, Poznan, Prague, Reading, Rio de Janeiro, Rome, Santiago de Chile, Sarajevo, Seville, Shanghai, Sheffield, Singapore, Sofia, Strasbourg, Stuttgart, Tirana, Tehran, Utrecht, Vienna, Warsaw, Zagreb and Zurich.

For more information, please visit www.cms.law

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