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CMS Advises EBRD on Renewable Energy Investment in Ukraine

CMS Cameron McKenna Nabarro Olswang in Kyiv is pleased to announce that it has advised the European Bank for Reconstruction and Development (EBRD), the largest international financial investor in Ukraine, on a loan of approximately USD 13.9 million to Irshanska SES LLC.

The loan proceeds are designed to support the construction and operation of the 30 MW solar power plant in the Zhytomyr region of Ukraine. The financing is provided by EBRD within the framework of the Ukraine Sustainable Energy Lending Facility programme, which focuses on the development of the renewable support scheme in Ukraine and the expansion of renewable energy technologies.

CMS acted on all aspects of the project development and financing across five jurisdictions, including the negotiation of all transactional documents, as well as related advice on real estate, banking and finance, energy regulatory issues and due diligence aspects.

The CMS team was led by Mark Segall (Partner, Head of Finance CEE/CIS), and included Vitaliy Radchenko (Partner, Energy & Projects, CMS Kyiv), Ihor Olekhov (Partner, Head of Banking & Finance, CMS Kyiv), Natalia Kushniruk (Partner, Real Estate and Construction, CMS Kyiv) Benoît Vandervelde (Associate Partner, Banking & Finance, CMS Belgium), Vivian Walry (Partner, Head of Banking & Finance, CMS Luxembourg), Elitsa Ivanova (Partner, Banking & Finance, CMS Bulgaria), with additional support from senior associate Volodymyr Kolvakh (Energy & Projects, CMS Kyiv), associate Anatolii Doludenko (Energy & Projects, CMS Kyiv) and lawyer Ivan Pshyk (Banking & Finance, CMS Kyiv).

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