Asters acts as a Ukrainian law counsel to Coal Energy S.A. in connection with USD 70 million financing provided by the European Bank for Reconstruction and Development (EBRD). Coal Energy S.A. is a Luxemburg-based holding running ten coal mines and recycling and processing plants in Ukraine.
The loan will be used for the development of Coal Energy's waste coal recycling business, the construction of beneficiation facilities at its Svyatoy Matrony Moskovskoy coking coal mine, and the mechanization of its CwAL LE "Sh/U Blagoveshenskoe" specialized in thermal coal mining. The project will also finance the implementation of energy efficiency, environmental and safety measures at Coal Energy's priority mines and provide working capital to support its operations.
Asters' team advising on the project consisted of partner Iryna Pokanay and associates Gabriel Aslanian and Viktoria Zagreba.