Asters has advised Elementum Energy Ltd. on the acquisition of a majority stake in the Dnistrovska wind park, in the Odessa region of Ukraine, and advised Elementum and Ukraine Power Resources on the construction of the first phase of the wind park.
Elementum Energy is a UK-based independent power producer focused on developing and operating renewable energy assets in Central and Eastern Europe. It is a subsidiary of VR Global Partners, L.P., a global investment fund.
According to Asters, “with a capacity of 4.0 MW each, the project's wind turbines are the most powerful wind turbines installed on a fully-commissioned in Ukraine to date. Elementum Energy and Ukraine Power Resources invested approximately EUR 59 million into the project, which makes the wind farm one of the largest FDI projects executed in Ukraine in 2020. During its operating life, Dnistrovska WP is expected to generate 146 GWh of electricity per year and avoid annual CO2 emissions of 108,000 tons. Elementum Energy and Ukraine Power Resources are currently in the process of constructing the second 60 MW phase of Dnistrovska WP, which is anticipated to be commissioned in Q2 of 2022.”
Asters' team included Senior Partner Armen Khachaturyan, Partner Yaroslav Petrov, Counsels Anzhelika Livitska and Olena Radko, Senior Associates Maksym Tereshchuk and Marta Halabala, and Associate Olena Sichkovska-Chornobyl.