Asters acts as a Ukrainian law counsel to the European Bank for Reconstruction and Development (the EBRD) in connection with the financing package including an 8-year EBRD loan of EUR 9.9 million and a 15-year loan of EUR 5.6 million from the Clean Technology Fund (CTF) to LLC "Biogazenergo", a subsidiary of Ukraine’s EIG Engineering.
The financing is provided within the frameworks of EBRD's program to support Ukrainian renewable energy sector and aims at the development, construction and operation of an 18MW wood chip-fired power plant in the town of Ivankiv in Kiev region. The biomass facility should become fully operational by the middle of 2014.
This financing 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 CTF) designed to provide finance to private local enterprises wishing to invest in renewable energy projects in Ukraine.
Asters' team working on the project consisted of partner Iryna Pokanay and associates Gabriel Aslanian and Inna Bondarenko.