On 1 May 2024, the Ministry of Energy of Ukraine's Order No.136 as of 1 April 2024, came into effect, cancelling Order No.206 as of 15 June 2022. This change has significant implications for the renewable energy sector in Ukraine, as detailed below.

A&O Shearman has advised the European Bank for Reconstruction and Development, the International Finance Corporation, and Intesa Sanpaolo Bank and its subsidiaries on a EUR 99 million financing to Karavasta Solar for the development, construction, and operation of a 140-megawatt power plant and a 19-kilometre overhead transmission line located in Fier municipality, Albania. Norton Rose Fulbright reportedly advised Karavasta Solar.

The development of the hydrogen economy has been recognised as one of the priorities for the implementation of the European Green Deal, the main goal of which is to achieve climate neutrality in Europe by 2050. Poland is Europe's third-largest producer of hydrogen; however, its production is done exclusively with fossil fuels for companies' own needs. The regulations currently in force in Poland do not provide adequate conditions for the effective implementation of the strategy for the development of the green (renewable) hydrogen market.

We bring you a brief overview of important legislative news from the Slovak Republic that should not escape your attention.

Bernitsas has advised Eurobank, Piraeus Bank, Alpha Bank, Alpha Bank Cyprus, Pancreta Bank, BNP Paribas, Intesa Sanpaolo, and Unicredit on the amendment and extension of the existing bond loans issued by Elpedison Power Generation up to the amount of EUR 214 million.

Clifford Chance Badea has advised Premier Energy on its IPO and listing on the Bucharest Stock Exchange amounting to approximately RON 700 million. Dentons advised the bookrunners. Moldova's Turcan Cazac and Cyprus' Chrysses Demetriades & Co reportedly advised the bookrunners as well.