Global law firm Dentons acted as Ukrainian legal counsel to Oesterreichische Entwicklungsbank AG (OeEB) in connection with the financing of the Hlyniany II photovoltaic project near Lviv, Ukraine. OeEB is an institution that finances private investment projects in developing countries and emerging markets, and this is its first transaction in the Ukrainian market.
OeEB has agreed to provide €10.3 million for the construction and operation of Hlyniany II project owned by ECO Optima Group. The power plant will produce 19.5 GWh of electricity annually, which will supply more than 6,000 households with green energy and save 300,000 tons of Co2.
The project will not only help to improve energy security and promote economic development, but will also contribute to reducing greenhouse gas emissions and strengthen Ukraine’s energy independence.
Dentons provided legal advice on financing, energy and corporate law issues in Ukraine. The team consisted of Kyiv-based partners Adam Mycyk, Natalia Selyakova and Maksym Sysoiev, together with counsel Nadiya Shylienkova and associate Artur Savin.
