AVELLUM

acted as the legal counsel to Investment Capital Ukraine (“ICU”)

on the sale of the remaining stake in alternative energy projects with total capacity

over 200 MW to VR Capital Group (“VR”). The transaction

covered the following solar power plants jointly developed by ICU and VR:

in Khmelnytskyi region – 64 MW

Capital” in Kherson region – 35 MW

number of power plants in Mykolaiv region – 127 MW total capacity

AVELLUM

provided full legal support to ICU in negotiating and signing the

transaction documents, as well as in completion of the transaction.

ICU

is an independent asset management, private equity, and investment advisory

firm specialising in the emerging markets of Central and Eastern Europe.

VR

Capital Group is an alternative asset manager with assets under management in

excess of USD4.5 billion. Since commencing operations in 1999, the firm’s

investments have been concentrated in global emerging markets. VR Capital

Group’s principal offices are in London and New York, and its advisory

affiliates are regulated by the U.S. Securities and Exchange Commission and the

U.K. Financial Conduct Authority.

The AVELLUM

team was led by partner Yuriy Nechayev with support from associates Dmytro

Symbiryov and Maryna Buinytska.