By  Andriy Nikiforov

Kinstellar has acted as Ukrainian legal counsel to the Investment Fund for Developing Countries (IFU), an agency of the Government of Denmark, in connection with a secured EUR 5.75 million loan facility to Kness Group, a Ukraine’s leading engineering, procurement and construction (EPC) group of companies.

The IFU’s loan facility will support the development, construction and operation by Kness Group of three solar plants with total capacity of 33.9 MW in the Vinnitsa region of Ukraine and is expected to contribute to the reduction of CO2 emissions by approx. 37 500 tons per year.

Kinstellar’s team advising on the transaction was led by Andriy Nikiforov (Counsel), Olena Kuchynska (Partner) advised IFU on corporate and energy matters and Oleg Matiusha (Counsel) on real estate matters. Kinstellar’s team working on the matter also included Viktoria Pysmenna, Oleh Andreikiv, Yuliya Eismont and Oleksandr Plachynta (Associates).