Thu, Jul
59 New Articles

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

  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

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. 

Ukraine Knowledge Partner

AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com


Our Latest Issue