Dentons and Balcioglu Selcuk Akman Keki Avukatlik Ortakligi have advised Czech-based hydroelectricity group Energo-Pro on securing EUR 175 million in financing for the development, construction, and operation of the Alpaslan 2 dam and hydropower plant in Turkey. The financing was arranged by MUFG Securities EMEA plc and Ceska Exportni Banka, and is partially backed by the Export Guarantee and Insurance Corporation, with HSBC acting as the security agent. Allen & Overy reportedly advised MUFG and HSBC on the deal.
According to Dentons, “Energo-Pro operates hydropower plants in Central and Eastern Europe, the Black Sea, and Caucasus. Its Alpaslan 2 project is located on the Murat river in Mus province, Turkey, and will have a licensed generation capacity of 280 MW.”
BASEAK’s Istanbul-based team was led by Partner Tamsyn Mileham and included Partner Ian McGrath, Counsels Ceren Su and Yasemin Saris, and Associates Fulya Gorer, Canberk Varis, and Sena Mutlu. Dentons’ Prague-based team included Partners Jiri Tomola, Tomas Osicka, and Petr Zakoucky, and Associates Martin Mandulak and Martin Fiala.
Editor's Note: After this article was published Allen & Overy confirmed that it advised MUFG Securities EMEA plc on the EUR 175 million financing. According to A&O, "the transaction was further financed by Ceska Exportni Banka and backed by the Czech export credit agency EGAP."
Istanbul-based Allen & Overy Partner Joe Clinton led on English law aspects of the financing, with support from Istanbul-based Associates Sarah Yeowart and Edward Charlton-Jones, while Turkish Counsel Umut Gurgey led on Turkish law aspects of the transaction, with support from Associates Dilsah Gurses and Burak Ozsoy, Prague-based Senior Associate Jana Marsalkova led the Czech law aspects of the transaction with support from Tereza Veverkova. A separate Allen & Overy team led by London-based Partner Simon Hill and Dubai-based Counsel Chris Angus with support from Dubai-based Associate Ian Convey advised HSBC in its capacities as Security Agent and Account Bank.