CMS Cameron McKenna Nabarro Olswang in Kyiv has advised CWP Europe (CWP) on the acquisition of 73MW wind project in development. The acquisition marks CWP’s first investment in Ukraine.
CWP Europe is the leading renewable energy development platform in Southeast Europe with over 1400MW in development. CWP Europe is owned by CWP Global, an international energy infrastructure development company operating in Europe and Australia.
The wind project located in the Kherson region in Southern Ukraine will enter construction in 2023, bringing EUR 76m of investment and creating 360 jobs. The acquisition represents an important step for CWP and its ambitious plans in Ukraine - where renewables had just a 4% share of overall energy generation in 2015, which is now projected to reach up to 25% over the next decade.
CWP chairman Mark Crandall said: “Given Ukraine’s important renewable energy potential, and because of its proximity to this growing market, it was the obvious choice for CWP Global to invest in Ukraine.”
CMS advised CWP on English and Ukrainian law aspects of the transaction, including due diligence, drafting and negotiation of the SPA.
Vitaliy Radchenko, Head of Energy & Projects at CMS in Kyiv comments: “We are pleased to support CWP on their first landmark investment in Ukraine. The acquisition shows confidence in the long-term prospects of the Ukrainian renewable energy sector and its further growth potential. CMS is well placed to advise on complex English-governed acquisitions in the renewable energy space, given our successful track-record representing some of the world’s leading renewables companies in Ukraine, Europe, the UK and across the globe.”
The CMS team was led by partners Vitaliy Radchenko (Energy & Projects) and Ihor Olekhov (Banking & Finance), assisted by Maryna Ilchuk (Counsel, Energy & Projects), Orest Matviychuk (English-qualified Senior Associate), Viktoriia Stavchuk (Senior Associate, Commercial & Tax), Ihor Pavliukov (Associate, Corporate) and Denys Hatseniuk (Lawyer, Corporate).
For further information, please contact:
Darina Gordienko, Senior Business Development Executive
E: darina.gordienko@cms-cmno.com
Notes to editors:
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