CMS has advised Scatec Solar ASA on the acquisition of a stake in a solar projects portfolio from Rengy Development.
The aim of the acquisition is to build solar power plants with the total capacity of 47 MW in the Mykolaiv region of Ukraine.
As part of the transaction, Scatec Solar will own 51% of the business and Rengy Development will own the balance. The total capex for the projects is estimated at EUR 52 million. The start of construction is expected later in 2018 and commercial operation should start in 2019.
Scatec Solar ASA is a Norway-based solar power developer. Rengy Development is a developer and an independent solar power producer in Ukraine.
The CMS team was led by Partner Vitaliy Radchenko and Senior Associate Natalia Kushniruk and included Senior Associates Tetyana Dovgan, Maryna Ilchuk, and Kateryna Chechulina, Associates Vitalii Mainarovych and Viktoriia Stavchuk, Attorneys Khrystyna Korpan and Volodymyr Kolvakh, and Trainees Ihor Pavliukov and Diana Pysarenko. Managing Partner Graham Conlon and Senior Associate Valentina Santambrogio advised on English law aspects of the transaction.
