AVELLUM Advises Ukrainian Investment
Firm on Establishment of Joint Venture in Renewable Energy Sector

AVELLUM acted as the legal
counsel to Investment Capital Ukraine (“ICU”) on the
establishment of a joint venture with VR Capital Group to develop a 63.8 MW
solar power plant in Khmelnytskyi region.

AVELLUM provided legal
support to ICU in negotiating and signing the transactional documents, as well
as in completion of the transaction. AVELLUM also assisted ICU in negotiating a
contract for the purchase of solar modules entered into with an internationally
operating EPC and turnkey solution provider of photovoltaics power plant.

AVELLUM’s partner Yuriy
Nechayev commented the following: “This transaction shows not only our deep
expertise in M&A for which AVELLUM is well known on the market for years,
but also our capability to provide full-scope legal support in implementation
of the projects in renewable energy sector.”

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 focused on distressed securities and
event-driven/special situations investments with a strong historical
orientation towards emerging markets. VR Capital Group operates offices in
London, New York, and Moscow and has a presence in Buenos Aires.

The AVELLUM team was led by partner Yuriy Nechayev, with support
from associates Dmytro Symbiryov and Olga Tersina.