Sayenko Kharenko has advised Elementum Energy on its acquisition of the minority stake in the joint venture company EE had entered into with the Volterra Energy Group.
Financial details of the transaction were not disclosed.
VR Capital is an alternative asset manager focused on emerging markets, including Ukraine. Elementum Energy is a renewable energy producer in Ukraine, and a subsidiary of VR Capital. The company currently owns and operates a portfolio of 28 solar power plants with a total installed capacity of 536 megawatts and is also in the final stages of development of a 40 megawatt wind power plant.
Volterra Energy Group is a renewable energy development and investment management group focusing on solar, wind, small hydro, energy storage, and waste-to-energy technologies.
Sayenko Kharenko helped VR Capital establish the JV company with Volterra Energy Group in 2019 for the purpose of developing solar power plants in Ukraine (as reported by CEE Legal Matters on April 10, 2019). According to the firm, “the joint venture company has successfully developed ten solar power plant projects in Ukraine, with the total installed capacity of 147 megawatts.”
Sayenko Kharenko’s team included Partners Maksym Nazarenko and Oleksandr Nikolaichyk, Senior Associate Mykhailo Grynyshyn, and Associates Zarina Khalimon, Igor Pomaz, and Snizhanna Savka.
Sayenko Kharenko did not reply to an inquiry about the deal.
