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9 October 2012

Asters Acted as a Counsel to the EBRD in Connection with its First Solar Power Project in Ukraine


Asters acts as a Ukrainian law counsel to the European Bank for Reconstruction and Development (the EBRD) in connection with a EUR 5.7 million loan to Green Agro Service LLC. The financing is provided within the frameworks of EBRD's programme to support Ukrainian renewable energy sector and aims at the development, construction and operation of a 4.5 MW solar plant, which will be located in the Vinnitsya region of south Ukraine.

This first ever solar project to be financed by the EBRD in the region is a part of the EBRD Ukraine Sustainable Energy Lending Facility (USELF), an investment facility of EUR 70 million (EUR 50 million from the EBRD and EUR 20 million from the Clean Technologies Fund (CTF)) designed to provide finance to private local enterprises wishing to invest in renewable energy projects in Ukraine.

Asters' team advising on the project consisted of partner Iryna Pokanay and associates Gabriel Aslanian and Viktoria Zagreba.



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