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Simmons & Simmons and Integrites Advises NBT on EPC Contracts for Europe’s Largest Onshore Wind Farm

Simmons & Simmons and Integrites Advises NBT on EPC Contracts for Europe’s Largest Onshore Wind Farm

Ukraine
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Simmons & Simmons and Integrites have advised NBT, a Norwegian wind power developer and the largest foreign investor in Ukraine, on its successful negotiations for Engineering, Procurement and Construction contracts with China Electric Power Equipment and Technology Co, Ltd. for the 300 MW second stage and 450 MW third stage of the Zophia Wind Park in Ukraine (“Zophia II” and “Zophia III” respectively).

Once completed, together with the 42.5 MW first stage, the Zophia Wind Park will become the largest onshore wind farm in Europe, with a total capacity of 792.5 MW – and will generate enough electricity to power the needs of approximately 340,000 households.

Simmons also advised NBT on its Preliminary Financing Arrangement Agreement, under which NBT and CET set out their intentions for financing for Zophia II and Zophia III. According to Simmons & Simmons, "NBT plans to tap Chinese banks including Industrial Commercial Bank of China, the Export-Import Bank of China, and China Construction Bank for EUR 500 million of senior debt and arrange an additional EUR 250 million from international banks." According to Simmons & Simmons, "this promises to be a landmark Belt and Road project in respect of its combined international and Chinese financing."

With a focus on emerging markets, NBT was the first company to close a limited-recourse financing in the fledgling wind power market in China in 2010 and earlier this year NBT, together with its equity partner Total Eren, closed the first limited-recourse financing of a wind farm in Ukraine with the 245.7 MW Syvash project (as reported by CEE Legal Matters on February 11, 2019).

Simmons & Simmons' London-based team was led by Partner Alex Blomfield and included Associates Louise Mackenzie and Elizabeth Ormesher.

The Integrites team was led by Managing Partner Oleksiy Feliv and included Partner Viktoriya Fomenko, Counsel Gennadiy Roschepii, Senior Associate Dmytro Kiselyov, and Associates Olena Zhydenko and Alina Trofimova. 

Integrites at a Glance

Founded in 2005, INTEGRITES is a full-service law firm with head office in Ukraine and representative offices in Germany and the UK.

INTEGRITES is particularly sought after for its cross-border work – sophisticated deals and transactions, complex dispute resolution, and projects which require in-depth industrial expertise, as well as for comprehensive advice on current business operations.

In 19 years in the market the firm has served 1500+ clients from around the globe, including Fortune 500 companies, international financial institutions, and recognized leaders in various industries: from real estate and construction, infrastructure, and agriculture to manufacturing, pharmaceuticals, and retail.

Climate Change Task Force within the firm provides clients with comprehensive advice on projects targeted at the sustainable development of their business and the country in the context of energy transition and green technologies.

The expertise of the team has consistently received recognition globally and domestically

Managing partner of the firm, Dr. Oleksiy Feliv, received The Lawyer European Awards 2023 as top-3 European managing partner of the year. Named as Commended, Dr. Feliv became the only Ukrainian representative selected for this nomination.

In 2023-2024 Yurydychna Gazeta (Ukraine) named INTEGRITES in top-5 firms with the widest impact on the development of the Ukrainian legal services market, with Dr. Oleksiy Feliv on top of the list of the most effective law firm leaders in the country.

INTEGRITES was shortlisted for Law Firm of the Year: Ukraine award by Chambers Europe and The Lawyer in 2021 and 2022.

Since 2020, INTEGRITES has been listed by GAR100 as one of the world’s best law firms in arbitration.

Firm's website: www.integrites.com