ASTERS ADVISES NORSK SOLAR AS ON A 9 MW SOLAR POWER PLANT PROJECT IN KYIV REGION
Asters, Kyiv, Ukraine,
Mon, July 29, 2019
Asters acted as a legal and tax counsel to Norsk Solar AS, a Norwegian solar power developer, in connection with the project of construction of a 9 MW solar power plant in the village of Semypolky close to Brovary (Kyiv region).
This is the first solar power project to be implemented in Ukraine by Norsk Solar AS. It is expected that the plant will start to deliver to the grid at the end of 2019. The renewable energy provided will ensure annual emission reductions of about 8,600 tonnes of CO2. The power plant construction is co-financed by The Nordic Environment Finance Corporation (NEFCO).
“At Norsk Solar, our mission is to finance, build and operate solar parks globally and to work towards a cleaner and more sustainable future. We estimate that the new solar power plant will provide more than 5,000 households with renewable energy over the next few decades”, says Øyvind Vesterdal, CEO at Norsk Solar AS.
Asters' project team included Partner, co-head of energy practice, Yaroslav Petrov, Counsel Anzhelika Livitska advising on the issues related to EPC, supply agreements, and Senior Associate Marta Halabala advising on SHA, and Partner Constantin Solyar advising on financial and tax structuring.
Norsk Solar AS is a Norwegian developer of solar power plants with a long-term Build-Own-Operate strategy. The company is a subsidiary of the NV group, owned by Norsk Vind (NV), established in 1996. NV is Norway‘s largest private wind power producer, and an important contributor of renewable energy. The NV group has several technology and energy companies in its portfolio, maintaining a disciplined focus on creating sustainable, ethical and clean energy for the future.
Asters is the largest law firm in Ukraine with offices in Kyiv, Washington D.C., Brussels and London. Chambers Europe 2019 recognizes 20 lawyers of Asters – the largest number of the renowned practitioners in a single Ukrainian law firm.