Practices

Energy & Natural resources

Overview

Avellum has legal expertise, experience and resources to provide comprehensive and complete legal advice on all matters of energy and natural resources projects. Our lawyers help clients identify, assess and manage project-related risks. We understand our clients’ needs and deliver pragmatic, commercially driven, elegant solutions.

Ukraine’s energy and natural resources sectors are fast-growing, complex, and heavily regulated. They are affected by frequent crisis situations and significant political pressure. When opportunities arise, we help our clients identify and manage associated risks and implement their projects promptly and efficiently.

Our experience

Our specialist knowledge of the regulatory and political climate in which our clients operate, coupled with our local know-how and transactional and dispute resolution capabilities, enables us to deliver pragmatic, commercially driven, and elegant solutions.

Our areas of expertise include:

  • renewable and conventional power industry (generation, transmission, distribution, supply and trading);
  • oil and gas (upstream, downstream and midstream);
  • other fossil fuels, metals and non-metal minerals; and
  • energy efficiency

Our lawyers actively participate in various legislative initiatives developed by governmental authorities and major industry associations. This allows us to be at the forefront of the legislative and regulatory change, and consequently, we are able to foresee the challenges our clients may face in the future. We have a reputation for working in highly specialized teams and providing exceptional transaction support.

We acted for and across the table from the leaders of the industry, including DTEK, the largest private energy group in Ukraine, Ukrenergo, a transmission system operator in Ukraine, CNBM, one of the largest investors in Ukraine’s renewable energy sector, Ferrexpo, one of the biggest suppliers of iron ore globally, Metinvest, a leading vertically-integrated metallurgy group in Ukraine, Naftogaz, the state-owned oil and gas monopoly, Ukrnafta, the largest oil company in Ukraine, Donetsksteel, a leading producer of coking coal in Ukraine.

Key experience

Sale of a stake in renewable energy projects to Elementum Energy, the largest international renewable energy producer in Ukraine

Legal advisor to one of the sellers

Acquisition of 70% stake in the Zavallivskyi Graphite Group

Legal advisor to Volt Resources Limited

Debt restructuring under the two inter-conditional English schemes of arrangement for DTEK Energy B.V. and DTEK Finance PLC

2

Bln USD

Legal advisor to DTEK Group

Sale to VR Capital Group of 50% stake in a holding company and establishment of a joint venture between ICU and VR Capital Group

19

Min USD

Legal advisor to Investment Capital Ukraine

Sale of shares in the holding company to Scatec Solar

Legal advisor to SM Invest Construction B.V.

Due diligence of energy assets in connection with exchange offer of Eurobonds

200

Mln USD

Legal advisor to DTEK

Establishment of a joint venture with VR Capital Group to develop a 34.75 MW photovoltaic solar power plant

Legal advisor to Investment Capital Ukraine

Pre-export finance facility

350

Mln USD

Legal Advisor to Ferrexpo AG

Show all key experience

Related materials

Legal alerts

UKRAINE INTENDS TO CHANGE FEED-IN TARIFF INCENTIVE SCHEME

On 15 June 2020, Ukrainian Government submitted draft law No. 3658 “On the Amendments to Certain Laws of Ukraine on the Improvement of Support for the Production of Electricity from Alternative Energy Sources” (“Draft Law”) for consideration by the Ukrainian Parliament.

Posted on July 6, 2022

Newsroom

AVELLUM LEADS IN IFLR 1000 IN 2022

The recently released edition of IFLR1000 ranks AVELLUM’s Corporate and Finance practices among the best in Ukraine for 9 consecutive years.

Posted on July 6, 2022

Publications

IS UKRAINE THE FUTURE HYDROGEN VALLEY?

Over the past years, Ukraine expressed its intention to step on the energy transition pathway, develop energy efficiency measures, phase out fossil fuels, and switch to renewable energy sources (RES). The development of green hydrogen production (based on electrolysis of water using renewable electricity) is part of the chosen direction. Therefore, the Ministry of Energy […]

Posted on July 6, 2022

Publications

FUNDING THE GREEN TRANSITION: GREEN BOND OPPORTUNITIES IN UKRAINE

Sustainable energy finance is one of the most promising sectors in Ukraine. Significant policy reforms are underway in Ukrainian energy markets, and much has already been done to create a market opportunity for sustainable energy finance in Ukraine and reach the national targets established by the Energy Strategy of Ukraine until 2035 – in particular: […]

Posted on July 6, 2022

Newsroom

IFLR1000 RANKS AVELLUM AS LEADING UKRAINIAN CORPORATE FINANCE LAW FIRM FOR 8 YEARS IN A ROW

The recently released edition of IFLR1000 ranks AVELLUM’s corporate and finance practices among the best in Ukraine for 8 consecutive years. IFLR1000 attributes AVELLUM’s work in banking and finance, M&A, and capital markets to the highest Tier 1 and our project development work to Tier 3. The ranking results demonstrate the consistently leading position of […]

Posted on July 6, 2022

News

AVELLUM ADVISES DTEK ON USD2 BILLION DEBT RESTRUCTURING

AVELLUM acted as the Ukrainian legal counsel to DTEK Group in connection with the debt restructuring under the two inter-conditional English schemes of arrangement for DTEK Energy B.V. and DTEK Finance PLC.

Posted on July 6, 2022
AVELLUM acted as the Ukrainian legal counsel to DTEK Group in connection with the debt restructuring under the two inter-conditional English schemes of arrangement for DTEK Energy B.V. and DTEK Finance PLC. Under the restructuring terms approved by the High Court of Justice of England and Wales, part of the current debt under DTEK Energy B.V. notes was converted into DTEK Oil & Gas B.V. notes in the amount of USD425 million at a rate of 6.75% per annum with maturity on 31 December 2026. The remaining debt (the main part of the bank debt and the noteholders debt less the amount of the issue of DTEK Oil & Gas B.V. notes) was converted into new notes of DTEK Energy B.V. in the amount of USD1.65 billion at a rate of 7% per annum and maturity on 31 December 2027. This is one of the largest corporate debt restructurings on the Ukrainian market to date with the approximately USD2 billion total volume of the new notes. DTEK is the largest privately owned vertically-integrated energy company in Ukraine, with efficient enterprises that mine and prepare coal as well as operate on electric power generation and supply markets. AVELLUM team working on this restructuring was led by senior partner Glib Bondar with support from senior associate Anastasiya Voronova and associate Anna Mykhalova.

Key contacts

GLIB BONDAR

Senior Partner

gbondar@avellum.com

MAKSYM MAKSYMENKO

Partner

mmaksymenko@avellum.com

Team

ROSTYSLAV MUSHKA

Senior Associate

rmushka@avellum.com

YULIIA PIDLISNA

Managing Associate

ypidlisna@avellum.com

INNA ERBELIDZE

Senior Associate

ierbelidze@avellum.com

MARIANA VEREMCHUK

Senior Associate

mveremchuk@avellum.com

YAROSLAV PAVLIUK

Associate

ypavliuk@avellum.com

Practices

Data protection and Cybersecurity

To keep up with an emerging regulatory framework, companies require expertise in multiple disciplines where law meets technology - be it data protection, data privacy or other related fields. AVELLUM offers practical and integrated solutions to those challenges.

Industry

Banking and Financial institutions

With in-depth knowledge and extensive experience, we are perfectly placed to render top-notch legal service, helping our clients navigate their way through this challenging environment.

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