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Goltsblat BLP Advises Lenders on Hydro Power Plant Financing

Goltsblat BLP Advises Lenders on Hydro Power Plant Financing


Goltsblat BLP has advised the Eurasian Development Bank and the International Investment Bank on financing provided for the construction of two hydro-power plants with a total capacity of 49.8 MW in the Russian Republic of Karelia.

The team of lawyers from Goltsblat BLP and law firms from the Cayman Islands, the Netherlands, the Republic of Cyprus and Saudi Arabia was led by GBLP Banking & Finance Partner Oleg Khokhlov and Senior Associate Igor Zhivotov. The Banking & Finance team also included Head of Group Tatiana Parshak and Associate Artemiy Bondarev. The deal was supported by a BLP Goltsblat Corporate team led by Partner Ian Ivory and Senior Associate Dmitry Antipin. Real Estate and Construction support was provided by Heads of Group Dmitry Ilyin and Dmitry Maltsev.

Editor's Note: After this article was published CEE Legal Matters learned that the borrower was Nord Hydro – Belyi Porog and that the loan totaling RUB 8.15 million, was extended for twelve years. The total project value is RUB 11.8 billion. The financial investors in the project are the Russian Direct Investment Fund (RDIF) and its foreign partners, including leading Near East sovereign funds and SINOMEC, China’s state-owned corporation. The Federal Corporation for the Development of Small and Medium-Sized Enterprises (SME Corporation) will provided a RUB 4.07 billion guarantee as security for NHBP’s loan of RUB 8.15 billion. 

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