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CMS advises CWP on wind project acquisition in Ukraine
CMS, Kyiv, Ukraine,
Sep 22, Kyiv, Ukriane
CMS Cameron McKenna Nabarro Olswang in Kyiv has advised CWP Europe (CWP) on the acquisition of 73MW wind project in development. The acquisition marks CWP’s first investment in Ukraine.
CWP Europe is the leading renewable energy development platform in Southeast Europe with over 1400MW in development. CWP Europe is owned by CWP Global, an international energy infrastructure development company operating in Europe and Australia.
The wind project located in the Kherson region in Southern Ukraine will enter construction in 2023, bringing EUR 76m of investment and creating 360 jobs. The acquisition represents an important step for CWP and its ambitious plans in Ukraine - where renewables had just a 4% share of overall energy generation in 2015, which is now projected to reach up to 25% over the next decade.
CWP chairman Mark Crandall said: “Given Ukraine’s important renewable energy potential, and because of its proximity to this growing market, it was the obvious choice for CWP Global to invest in Ukraine.”
CMS advised CWP on English and Ukrainian law aspects of the transaction, including due diligence, drafting and negotiation of the SPA.
Vitaliy Radchenko, Head of Energy & Projects at CMS in Kyiv comments: “We are pleased to support CWP on their first landmark investment in Ukraine. The acquisition shows confidence in the long-term prospects of the Ukrainian renewable energy sector and its further growth potential. CMS is well placed to advise on complex English-governed acquisitions in the renewable energy space, given our successful track-record representing some of the world’s leading renewables companies in Ukraine, Europe, the UK and across the globe."
The CMS team was led by partners Vitaliy Radchenko (Energy & Projects) and Ihor Olekhov (Banking & Finance), assisted by Maryna Ilchuk (Counsel, Energy & Projects), Orest Matviychuk (English-qualified Senior Associate), Viktoriia Stavchuk (Senior Associate, Commercial & Tax), Ihor Pavliukov (Associate, Corporate) and Denys Hatseniuk (Lawyer, Corporate).
For further information, please contact:
Darina Gordienko, Senior Business Development Executive
Notes to editors:
Founded in 1999, CMS is an integrated, multi-jurisdictional organisation of law firms that offers full-service legal and tax advice. With more than 70 offices in over 40 countries across the world and more than 5,000 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets.
The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate/M&A, Energy & Climate Change, Infrastructure & Projects, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Competition & EU, Dispute Resolution, Employment & Pensions, Intellectual Property and Real Estate.
For more information, please visit cms.law