AVELLUM advised DTEK Renewables Finance B.V. on a successful consent solicitation in relation to its EUR325 million 8.50% senior notes due 2024 (“Notes”). In 2019, DTEK Renewables Finance B.V. was the first company with renewables operations in Ukraine to issue specialised securities for the development of renewable energy in Ukraine.
The consent solicitation in relation to the Notes resulted in extension of the Notes’ maturity by three years – from November 2024 to November 2027. Noteholders also supported the proposals related to the development of the second phase of DTEK Tyligulska wind power plant construction for 384 MW noting the crucial importance of the project for bolstering Ukraine’s energy capacity and addressing the severe damage inflicted on the country’s energy infrastructure due to the Russian ongoing attacks.
DTEK Renewables group of companies is a trend maker in Ukraine’s renewable energy sector. The renewables direction was established in DTEK group in 2008 and was tasked with developing and managing renewable energy projects across Ukraine. Since then, DTEK Renewables group has become a noticeable player in the Ukrainian energy market, successfully constructing 1.1 GW of solar and wind power generation.
AVELLUM team working on the project was led by senior partner Glib Bondar, with support from managing associate Mariana Veremchuk, associate Andrii Kroshko and junior associate Olha Harhola.
