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Redcliffe Partners and Bird & Bird Advise EBRD on Renewable Energy Project Financing to I&U Group

Redcliffe Partners and Bird & Bird Advise EBRD on Renewable Energy Project Financing to I&U Group

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Redcliffe Partners and Bird & Bird have advised the EBRD and the Clean Technology Fund on a EUR 15 million senior secured long-term loan to The I&U Group. Asters reportedly advised the I&U Group on the deal.

Redcliffe Partners provided advice on Ukrainian law and Bird & Bird provided English law advice. Additional advice was reportedly provided by Kinanis LLC in Cyprus and Quijano & Associates in the British Virgin Islands. 

The financing package consists of a EUR 13 million loan to be provided by the EBRD, and a EUR 2 million concessional loan provided by the Clean Technology Fund.

The financing is a loan and green-energy grant for the construction, equipment, and placing into operation of a 6 megawatt biogas facility, including the acquisition and installation of the grant-financed Items in the Kirovograd region of Ukraine. 

According to Redcliffe Partners, the "facilities' feature is in the implementation of an innovative biogas production technology, allowing for a reduction in energy consumption and the use of residue from the biogas process as bio-fertilizers, which will replace chemical fertilizers. It is expected that the project will result in a total reduction of 24,000 tons of CO2 emissions annually."

The I&U Group is an agricultural holding company with sugar production and crop farming businesses in Ukraine.

Redcliffe's team was supervised by Managing Partner Olexiy Soshenko and led by Counsel Olena Polyakova, supported by Associates Eduard Olentsevych, Anton Rekun, and Bogdan Nykytiuk.

The Bird & Bird team consisted of Partner Andrew Hallgarth, Associate Jennifer Bird, and Paralegal Patricia Wing.

Redcliffe Partners at a Glance

Redcliffe Partners is a leading Ukrainian law firm that provides a full range of legal services to large national enterprises, international companies, financial institutions and private investors who are conducting business or investment activities in Ukraine.

We are involved in the majority of the largest and most complicated transactions and litigation cases in Ukraine.

Redcliffe is a top-tier law firm in Ukraine, being Tier 1 in all of our key practices: Banking, Energy and M&A according to Legal 500 2019.

The basis of our work and dynamic development is a powerful international team, practical experience in the most active business sectors, and impeccable professional ethics and business transparency.

Firm's website: www.redcliffe-partners.com