Avellum has acted as Ukrainian legal counsel to the EBRD and the Black Sea Trade and Development Bank in connection with senior secured loans totaling EUR 36.3 million to Rengy Bioenergo LLC.
The loans will be used to construct and put into operation three solar power plants in Ukraine's Mykolaiv region with a total installed capacity of 47 MW. According to Avellum, "once in operation, the plants will improve Ukraine’s energy supply mix and contribute to the country’s energy security, as well as to the objective of bringing the share of renewables in total electricity consumption to 25 percent by 2035."
This is the EBRD’s first project under the recently approved Ukraine Sustainable Energy Lending Facility III framework. The USELF III program, worth EUR 250 million, follows two preceding sustainable-energy lending programs co-financed by the EBRD and the Clean Technology Fund.
Avellum's team was led by Senior Partner Glib Bondar and Counsel Maria Tsabal, supported by Partner Vadim Medvedev, Counsel Maksym Maksymenko, Senior Associate Tetyana Mykhailenko, and Associates Dmytro Symbiryov, Daryna Mykhailenko, Anna Mykhalova, and Anna Kalabska.
Avellum did not reply to our inquiry about counsel for Rengy Bioenergo.