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21 January 2022

Sayenko Kharenko advises Elementum Energy on acquisition of a stake in the Lymanska WPP project

Sayenko Kharenko has acted as Ukrainian legal counsel to Elementum Energy Limited on the acquisition of a majority stake in Lymanska Vitroelektrostantsiia LLC from Ukraine Power Resources. Lymanska Vitroelektrostantsiia LLC is a project company that is developing a wind park exceeding 100 MW near Odesa, Ukraine. The project is being developed in cooperation with Ukraine Power Resources, which remains a minority shareholder.

Sayenko Kharenko’s involvement in this transaction included legal support during the negotiation and conclusion of the share purchase agreement and shareholders’ agreement and completion assistance.

Elementum Energy is the largest international investor to the renewable energy sector in Ukraine. The company currently owns and operates a portfolio of 28 solar power plants with a total installed capacity of 536 MW and a 40 MW wind power plant, with additional 60 MW of wind capacity in construction.

Ukraine Power Resources is a U.S. company founded by Peter A. Gish and Geoff Berlin that is developing renewable energy and storage projects in Ukraine.  Through its affiliate companies it has successfully developed over 2.4 GW of wind power capacity and 600 MW of solar PV capacity in seven countries.

Sayenko Kharenko’s team included partner Oleksandr Nikolaichyk, senior associate Mykhailo Grynyshyn and associate Zarina Khalimon.

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