2 July 2012
EPA&P Ukraine advises on the pioneering solar energy project financing for Ukrainian borrowers

EPAP Ukraine has acted for the borrowers in connection with a facility from VTB Capital to finance the construction inCrimea,Ukraineof one of the largest solar energy parks inEurope. This is a first ever full-fledged international project financing provided to Ukrainian entities.

The project was developed by Activ Solar GmbH which engaged EPAP Ukraine to act as Ukrainian legal counsel to the borrowers and guarantors.

Olga Khoroshylova, partner of EPAP Ukraine, said: “We are proud to have been involved into this unique transaction, one of a kind to date inUkraine. The deal has marked the launch of large-scale project financing in the energy sector ofUkrainein general and in the renewables area in particular".

EPAP Ukraine team was led by Olga Khoroshylova and included counsel Tetyana Grischenko, senior associate Roman Stepanenko and associate Viktoriya Podvorchanska.