Industries

Energy & Natural resources

Over the past years, we have been involved in significant transactions in the energy sector and have continuously advised on various issues in all areas of energy law. Ukraine’s energy and natural resources sectors are rapidly growing, complex and heavily regulated. We help our clients promptly and efficiently implement their projects and identify and manage all associated risks.

Our approach

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. We focus on transaction-related and regulatory matters covering every category of the energy and natural resources markets: extraction, generation, transmission, distribution, supply and trading. We advise leading energy companies, project developers and contractors, foreign and local investors, international financial institutions and banks.

Energy

Ukraine’s energy sector is fast-changing and has the potential for rapid growth. In close cooperation with our clients, we step on the energy transition pathway, develop energy efficiency measures and switch to renewable energy sources. We provide our clients with comprehensive legal support based on future-proof, pragmatic, and commercially driven solutions for all aspects – whether conventional or renewable energies, domestic and cross-border M&A, restructuring, financing of major projects or grid operations.

Natural resources

We regularly handle projects in the mining sector. Our clients are Ukrainian mining businesses involved in extracting all types of metal and non-metal minerals. We regularly advise international investors and lenders interested in Ukraine’s mining sector. Our goal is to offer commercially driven solutions that allow our clients to succeed in a volatile legal and regulatory environment.

Our clients

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

Acquisition of 70% stake in the Zavallivskyi Graphite Group

Legal advisor to Volt Resources Limited

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

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

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 63.8 MW solar power plant

Legal advisor to Investment Capital Ukraine

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 August 11, 2022

Newsroom

AVELLUM ACTS FOR UKRAINE ON CONSENSUAL DEFERRAL OF EXTERNAL DEBTS WORTH OVER USD25 BILLION

AVELLUM acted as the Ukrainian legal counsel to (i) the Ministry of Finance of Ukraine, (ii) Private Joint Stock Company “National Power Company “Ukrenergo” (“Ukrenergo”), and (iii) the State Road Agency of Ukraine (“Ukravtodor”).

Posted on August 11, 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 August 11, 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 August 11, 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 August 11, 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.

Newsroom

AVELLUM ADVISES ON SALE OF 3 WIND POWER PLANTS OF 49.5 MW TOTAL CAPACITY

For the last 4 years, AVELLUM has advised on renewable energy projects (both within M&A and banking transactions) the total generating capacity of which exceeds 2 GW.

Posted on August 11, 2022
AVELLUM acted as the legal counsel to one of the sellers on the sale of a stake in renewable energy projects to Elementum Energy, the largest international renewable energy producer in Ukraine. The transaction covered 3 wind power plants: Artsyz Wind Power Plant, Artsyz Wind Power Plant-2, and Kiliya Wind Power Plant, all located in the Odesa region with an installed capacity of 16.5 MW each. AVELLUM provided full legal support to the client in negotiating and drafting the transaction documents. AVELLUM team was led by partner Yuriy Nechayev with support from associates Maryna Buinytska and Iryna Fonotova. Taking into account this transaction, for the last 4 years AVELLUM has advised on renewable energy projects (both within M&A and banking transactions) the total generating capacity of which exceeds 2 GW.

Key contacts

GLIB BONDAR

Senior Partner

gbondar@avellum.com

MAKSYM MAKSYMENKO

Partner

mmaksymenko@avellum.com

Team

VADIM MEDVEDEV

Partner

vmedvedev@avellum.com

YULIIA PIDLISNA

Managing Associate

ypidlisna@avellum.com

ROSTYSLAV MUSHKA

Senior Associate

rmushka@avellum.com

INNA ERBELIDZE

Senior Associate

ierbelidze@avellum.com

MARIANA VEREMCHUK

Senior Associate

mveremchuk@avellum.com

YAROSLAV PAVLIUK

Associate

ypavliuk@avellum.com

Practice

Mergers and Acquisitions

We provide an unrivaled level of service and expertise in buying or selling a business or establishing a joint venture.

Industry

Consumer goods

We deeply understand the critical intricacies of being in the consumer goods business, the specifics of regulatory issues, timing, and business planning.

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