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CMS and Integrites Advise EuroCape on Financing of First Phase of 500MW Wind Power Project in Ukraine

CMS and Integrites Advise EuroCape on Financing of First Phase of 500MW Wind Power Project in Ukraine

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CMS and Integrites have advised EuroCape Ukraine I LLC, a subsidiary of independent renewable energy company LongWing Energy SCA on equity and senior debt financing it received for the construction of the Zaporizhia Wind Farm in Ukraine.

The equity investment comes from VLC Renewables, a renewable energy investment fund formed through a partnership between Vitol and Low Carbon, with GE Energy Financial Services making a minority investment.  

The Overseas Private Investment Corporation — the U.S. Government's development finance institution — will also provide senior debt of USD 150 million for the first phase of the wind farm, with JP Morgan as hedge provider.

The financing package will be used to support the first 98 MW phase of the planned 500 MW wind farm. Once completed, the onshore wind farm will be one of the biggest in Europe. According to CMS, "the project is expected to significantly increase the country’s power generation capacity and bolster energy security."

The CMS team was led by Partner Vitaliy Radchenko and included Counsel Natalia Kushniruk, Senior Associate Kateryna Chechulina, and Associate Khrystyna Korpan.

The Integrites team providing Ukrainian counsel included Partners Oleksiy Feliv, Igor Krasovskiy, Illya Tkachuk, and Viktoriya Fomenko, Counsels Serhii Uvarov and Gennadii Roschepii, Senior Associates Olena Savchuk, Inna Kostrytska, and Yuriy Korchev, and Associates Oleh Kotliar and Victoriia Shvydchenko.

Editor's note: After this article was published, CEE Legal Matters learned that Dentons advised VLC Renewables on this deal. The firm's team was led by UK Partner Christopher Thomson and included London-based Partner Mark Cheney and Kyiv-based Partner Adam Mycyk, Kyiv-based Counsel Maksym Sysoiev and Senior Associate Natalia Levchuk, and London-based Associates Paul Scott and Natalie Burns.

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