<\/p>\n
Redcliffe acted as a Ukrainian legal adviser to the Lenders and J.P. Morgan Securities Plc as debt coordinator in connection with a EUR 155 million secured term loan to be provided to Ukrainian project company SyvashEnergoProm to fund the construction of the first phase of a 250 MW wind power plant near Syvash Lake, in the Kherson Region of Ukraine. The signing ceremony occurred at the World Economic Forum in Davos in the presence of the President of Ukraine, Mr. Poroshenko.<\/p>\n
The sponsors investing into the project company are the Norwegian developer NBT AS and French-based independent power producer Total Eren. At its full size, the overall cost of the project amounts to EUR 380 million, making the project the biggest investment in the renewables energy sector in Ukraine to date.<\/p>\n
Commenting on the transaction, Olexiy Soshenko, Managing Partner and Head of the firm’s Banking and Finance practice, said: “This project shows not just a continued interest of international investors in the renewables sector in Ukraine but also manifests the readiness of strategic foreign investors and a number of international financial institutions to invest in such projects in Ukraine”.<\/p>\n
Redcliffe\u2019s role involved providing a broad scope of transactional legal advice, including regulatory, tax and antitrust, legal due diligence of the project company, reviewing and negotiating finance documents, reviewing project documents (including the EPC Contract and the Warranty, Maintenance and Support Agreement), establishing security, issuing legal opinion, etc.<\/p>\n
Redcliffe\u2019s team was led by Olexiy Soshenko and Evgeniy Vazhynskiy, a senior associate in the Banking & Finance practice, with assistance from Svitlana Teush, counsel and head of the Renewable Energy Focus group, Oleksandr Markov, counsel in the Tax practice, Anastasia Usova, counsel in the Antitrust practice, and junior associates Eduard Olentsevych and Bogdan Nykytiuk.<\/p>\n
Clifford Chance advised the Lenders on the English law aspects of the transaction.<\/p>\n
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Redcliffe acted as a Ukrainian legal adviser to the Lenders and J.P. Morgan Securities Plc as debt coordinator in connection with a EUR 155 million secured term loan to be provided to Ukrainian project company SyvashEnergoProm to fund the construction of the first phase of a 250 MW wind power plant near Syvash Lake, in […]<\/p>\n","protected":false},"author":4489,"featured_media":164607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[24,23],"tags":[],"yoast_head":"\n