Kinstellar Advises Investment Fund for Developing Countries on Financing for Construction of Ukrainian Solar Plants

Kinstellar has advised the Investment Fund for Developing Countries, an agency of the Government of Denmark, in connection with a secured EUR 5.75 million loan facility to the Kness Group, a Ukrainian engineering, procurement, and construction group of companies. During the transaction, Kness relied on their in-house team.

According to Kinstellar, IFU’s loan facility will support the development, construction, and operation of three solar plants by the Kness Group. The three plants, which will be located in the Vinnitsa region of Ukraine, will have a total capacity of 33.9 MW, and are expected to contribute to the reduction of CO2 emissions by approximately 37,500 tons per year.

The IFU’s loan comes on top of an earlier up to EUR 25.9 million financing Kness obtained in the form of a senior EBRD 10-year loan of up to 18.5 million and a 10-year loan from the Clean Technology Fund of up to EUR 7.4 million.

Kinstellar’s team included Partner Olena Kuchynska, Counsels Andriy Nikiforov and Oleg  Matiusha, and Associates Viktoria Pysmenna, Oleh Andreikiv, Yuliya Eismont, and Oleksandr Plachynta. 

 

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