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Avellum Advises EBRD and FMO on Loan to Chysta Enerhiia-2011

Avellum Advises EBRD and FMO on Loan to Chysta Enerhiia-2011

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Avellum has acted as Ukrainian legal counsel to the EBRD and Nederlandse Financierings – Maatschappij voor Ontwikkelingslanden N.V. in connection to a EUR 24.5 million senior secured loan granted to LLC Chysta Enerhiia-2011, with 50% from each. Integrites reportedly advised Chysta Enerhiia-2011 on the deal.

According to Avellum, the loan proceeds will be used to finance the construction and operation of a solar photovoltaic plant in the Cherkasy region, Ukraine, with the aggregate installed capacity of 30 megawatts. 

The project directly contributes towards achieving the government’s 15% target for renewable electricity generation by 2030 (it currently accounts for approximately 2%). The EBRD portion will be funded under its Ukraine Sustainable Energy Lending Facility.

FMO is the Netherlands Development Finance Company financing long-term, sustainable projects which power economies, promote the transition to a low-carbon system, and safeguard energy security. Since early 2000, FMO is active in Ukraine, also with investments in private equity funds, agribusiness, and the financial sector.

The Avellum team was led by Senior Partner Glib Bondar with the support of Counsel Maria Tsabal, Senior Associate Tetiana Mykhailenko, and Associates Dmytro Symbiryov, Daryna Mykhailenko, Anna Mykhalova, and Anna Kalabska

Integrites at a Glance

INTEGRITES is a full-service law firm with the head office in Ukraine, offices in Kazakhstan and Russia, and representative offices in Germany, the Netherlands, and the UK.

We provide legal services to companies seeking comprehensive advice on large deals and major disputes, as well as day-to-day operation. INTEGRITES is highly recommended for its cross-border work (whether sophisticated transactions or complex dispute resolution) and for the projects in energy, in particular, renewable.

Our mission is to help companies concentrate on development of their business while we take care of the legal issues. With profound industry-focused expertise, we deliver legal solutions that add value to the business of our clients and help them successfully handle legal challenges.

In 14 years INTEGRITES has served more than 850 clients from around the globe, including Fortune 500 companies and international financial institutions. Clients in our portfolio are recognized leaders in various industries: from manufacturing, pharmaceuticals, and retail to agriculture, logistics, and renewables. Currently 80% of the companies we serve are international.

INTEGRITES has been consistently recognized by the leading international legal directories and rankings: Chambers Global/Europe, The Legal 500 EMEA, Who’s Who Legal, IFLR 1000, Best Lawyers, FT Innovative Lawyers.

All News about, and Legal Analysis by, Integrites can be found here.

Firm's website: www.integrites.com