Dentons advises DTEK Renewables B.V. on the construction and financing of the largest solar power plant in Ukraine
Dentons acted as legal counsel to DTEK Renewables B.V. on the implementation of a project for the construction of a solar power plant (SES) with an established capacity of 200 MW in Nikopol district (Dnipropetrovsk region). After its construction, the Nikopol SES will be the most powerful solar power station in Ukraine and will become one of the largest in Europe. The project cost is estimated at EUR230 million.
Agreements for the design, construction, installation and supply of the project for the construction of the SES were signed between DTEK Renewables B.V. and the China Machinery Engineering Corporation (a Chinese state-owned construction and engineering company, that is a member of the Sinomach group of companies).
The Nikopolska SES will supply more than 280 mln kWh of “green” energy annually. This quantity will suffice to satisfy the demand of 100 thousand households. The solar power plant project will allow creating new jobs in the region, and local budgets will receive millions from tax payments.
Dentons cross-border team was led by Kyiv Partner Adam Mycyk together with Kyiv Counsel Maksym Sysoiev, and included Istanbul Partners Ian McGrath and Tamsyn Mileham, Shanghai Senior Partner Nancy (Qingnan) Sun and Shanghai Partner Jean Wong, Warsaw Counsel Agnieszka Kulinska, Kyiv Counsel Nadiya Shylienkova and Shanghai Counsel Amanda (Yulan) Guo, with the support from other attorneys in each of Dentons’ offices involved in the project.
Commenting on this news, Adam Mycyk said: “We are proud to have helped our client, DTEK, reach this first major milestone for this outstanding project. The Nikopol solar power plant will become the largest solar power generator in Ukraine and one of the largest in Europe. The signing of this transaction sends a powerful positive signal to the global investor community looking for opportunities in Ukraine. This project is a further example of Dentons’ ability to leverage our international expertise and global footprint to advise on high profile energy projects across the world.”
DTEK is Ukraine’s largest energy group with assets in coal mining, electricity generation and distribution, alternative energy and gas production. DTEK is part of the System Capital Management (SCM) group. DTEK’s companies employ 75 thousand people. Synergy of coal producing and electricity generating companies, advanced technologies, professional management and high social standards help DTEK maintain its leading positions in the fuel and energy market of Ukraine.
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