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12 April 2018, 13:00

Asters advises CMEC on signing a EUR 230 million contract with DTEK

to build a 200 MW solar plant in Ukraine

Asters

Asters acted as a legal counsel to China Machinery Engineering Corporation (CMEC), one of the largest Chinese state-owned construction and engineering companies, in connection with signing a contract with DTEK, Ukraine’s largest private power producer, for the construction of a solar power plant in Nikopol (Dnipropetrovsk region).

The solar power station will be built in Nikopol with a planned capacity of 200 megawatts, making it the third largest in Europe in terms of potential output. The project cost is estimated at EUR 230 million. The project will be financed with a combination of DTEK funds and a loan from CMEC secured by the Export Credit Agency of China.

"Nikopol solar power plant will become the largest generating object of solar energy in Ukraine. The joint work of DTEK and CMEC will be an example of cooperation for other Ukrainian and Chinese companies. We are determined to implement a successful project for Ukrainians, which will create an environmentally friendly generation to achieve Ukraine's energy independence," – Mr. Zhang Chun, CMEC Management Board Chairman, comments.

Asters' project team included Partner Yaroslav Petrov, Senior Associate Marta Halabala, Associate Olena Sichkovska advising on the issues related to EPC agreement, Partner Iryna Pokanay, Counsel Gabriel Aslanian, Associates Inna Bondarenko and Oleksandr Khomenko advising on the financial agreements and securities, and Partner Alexey Khomyakov – on tax issues.

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