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.