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Ukraine: solar flair
International law firm Norton Rose advised global investment group VTB capital on a lending facility to finance the largest solar power plant in Europe in a project that will double Ukraine's solar capacity.
The 100MW plant is to be constructed in the Crimea region of the country.
Chris Brown, partner at Norton Rose and advisor to VTB, commented: ‘This is one of the more significant project financing transactions to be undertaken in Ukraine in recent years. The development of project finance in Ukraine has been hampered by a number of legal constraints, which we needed to overcome in order to get this deal done.’
London-based magic circle firm Linklaters acted for the borrowers and Activ Solar GmbH.
