Energy

AVELLUM acted as the Ukrainian legal counsel to the European Bank for Reconstruction and Development (“EBRD”) and the Black Sea Trade and Development Bank ("BSTDB") in connection with senior secured loans in the total amount of up to EUR36.3 million to Rengy Bioenergo LLC (“Loans”). The Loans will be used to construct and put into operation 3 solar power plants in Mykolaiv region with a total installed capacity of 47 MW. Once in operation, the plants will improve Ukraine’s energy supply mix and contribute to the country’s energy security, as well as to the objective of bringing the share of renewables in total electricity consumption to 25 per cent by 2035. This is the EBRD’s first project under the recently approved Ukraine Sustainable Energy Lending Facility III (“USELF III”) framework. The USELF III program, worth EUR250 million, follows two preceding sustainable-energy lending programs co-financed by the EBRD and the Clean Technology Fund. Glib Bondar, AVELLUM’s senior partner, commented on the transaction: “We are honoured to have been given the opportunity to support our clients on this challenging deal from a kick-off meeting to successful financial closing. It is a testament of our ability to offer our clients the effective multidisciplinary projects team with the right mix of skills for transactions of such scale and complexity.” The EBRD is the largest international investor in Ukraine, which has provided almost EUR13.1 billion to fund approximately 418 projects since 1993. The EBRD supports the development of renewable energy in Ukraine under USELF programs since 2009, and funded renewable energy projects with a total capacity of over 150 MW. BSTDB’s cumulative portfolio in the Black Sea region includes 365 approved operations in the key sectors of infrastructure, energy, transport, manufacturing, telecommunications, finance, and other areas, totalling about EUR5 billion. The AVELLUM team was led by senior partner Glib Bondar and counsel Maria Tsabal, with support from partner Vadim Medvedev, counsel Maksym Maksymenko, senior associate Tetyana Mykhailenko, associates Dmytro Symbiryov, Daryna Mykhailenko, Anna Mykhalova, and Anna Kalabska.

Sayenko Kharenko’s energy practice acquired top industry talent to consolidate all of the firm’s work and expertise in the sector Maryna Hritsyshyna joins Sayenko Kharenko after spending almost seven years at WIND POWER LLC, sub-holding of DTEK RENEWABLES. Maryna specializes in renewables projects, energy market, and dispute resolution in the energy sector. Being responsible for the legal support of complex projects in the renewable energy sector, she has accumulated extensive experience of drafting and negotiating a wide range of agreements, including wind turbine supply and installation agreements, turnkey agreements (including, EPC under FIDIC forms), service agreements, and re-negotiation of existing contracts. Her expertise also covers all legal issues related to the construction of renewable energy projects, as well as regulatory issues relating to the grid connection, offtake contracts and tariffs. In addition, Maryna is a certified business-mediator of Energy Community Secretariat’s Dispute Resolution and Negotiation Centre. Sayenko Kharenko’s energy practice acquired top industry talent to consolidate all of the firm’s work and expertise in the sector Maryna Hritsyshyna joins Sayenko Kharenko after spending almost seven years at WIND POWER LLC, sub-holding of DTEK RENEWABLES. Maryna specializes in renewables projects, energy market, and dispute resolution in the energy sector. Being responsible for the legal support of complex projects in the renewable energy sector, she has accumulated extensive experience of drafting and negotiating a wide range of agreements, including wind turbine supply and installation agreements, turnkey agreements (including, EPC under FIDIC forms), service agreements, and re-negotiation of existing contracts. Her expertise also covers all legal issues related to the construction of renewable energy projects, as well as regulatory issues relating to the grid connection, offtake contracts and tariffs. In addition, Maryna is a certified business-mediator of Energy Community Secretariat’s Dispute Resolution and Negotiation Centre. Before joining Sayenko Kharenko Maryna was responsible for the legal support of the following projects: Botievo Wind Farm with capacity of 200 MW in Zaporizhia region; Tryfanovskaya Solar Farm with capacity of 9,99 MW in Kherson region; Primorskaya Wind Farm with capacity of 200 MW in Zaporizhia region; Orlovka Wind Farm with capacity of 100 MW in Zaporizhia region. Welcoming the new counsel, Sayenko Kharenko’s partner Nazar Chernyavsky said: “I am very excited that Maryna decided to step up her career as part of our energy team. With her wide-ranging experience in the energy sector, she will strengthen our existing capabilities in the energy sector, and we would be able to handle all types of work there ranging from greenfield projects and respective financing up to settling disputes with the regulator and guiding clients through the pitfalls of ongoing energy reform in Ukraine.” Sayenko Kharenko has an established energy practice. Driven by the clients’ business goals, the firm has established a reputation for advising on the most challenging and first-of-the-kind projects in the market. Sayenko Kharenko’s well-equipped multidisciplinary team is known for its strength across transactional, regulatory and dispute resolution settings and has worked on over 300 energy projects to date. The capacities of the team are ranked by all major legal directories, which cover this area for Ukraine (Chambers Europe 2018; The Legal 500, 2018; IFLR1000, 2018; Ukrainian Law Firms 2018; Best Lawyers International 2019). Click here for more information.