KPMG Law Ukraine successfully has completed its legal support of the M&A agreement on the side of an international investor - the Slovak company E-Group which together with UDP Renewables, an investment and development company, launched a solar power plant Port Solar in Izmail (Odesa region) with a peak power of 8,6 MW.
“Over recent years, the solar industry in Ukraine has transformed into a powerful and rapidly developing trend. The share of RES in total electricity production has already exceeded 3%. We are supporters of a clear final goal: 100% of renewable energy in the country's energy balance. The implementation of the Port Solar SPP project is one more step in our strategy. For this project we attracted an experienced international investor - E-Group company - and the best specialists in the industry,” said Sergey Yevtushenko, UDP Renewables Managing Partner.
SSP Port Solar covers an area of 16 hectares. More than 25,700 solar panels are installed at the plant. This number of modules make it possible to generate about 11,830 MWh of electricity per year, which is sufficient to meet the needs of at least 3.2 thousand households. The operation of Port Solar Solar Power Plant will reduce carbon dioxide emissions by 13.5 thousand tons per year.
“We congratulate UDP Renewables and E-Group company, and we are pleased to be the legal advisor to the international investor during the implementation of the Port Solar project. We are confident that they will contribute to the achievement of the national energy strategy and support the sustainable development of renewable energy, ”commented Yuri Katser, Director of KPMG Law Ukraine.
The KPMG Law Ukraine team worked at the project with director Yuri Katser, adviser Yaroslav Cheker, senior lawyer Gleb Demych and lawyer Liliya Sysin.