INTEGRITES acted as local counsel to EuroCape Ukraine, an indirect subsidiary of LongWing Energy, a Luxemburg-based independent power producer operating renewable assets in Europe, in connection with the financing of the first 98 MW phase of a 500 MW wind farm in Zaporizhia region, Ukraine.
The first phase of the project build-out is financed by a mixture of debt and equity. The Overseas Private Investment Corporation (OPIC) is providing US$150 mln in long-term financing. The remaining project costs are financed by LongWing S.C.A, VLC Renewables and GE Capital’s Energy Financial Services. GE Renewable Energy will also supply the turbines for the 98 MW.
The first phase of the project is under construction and shall enter operation in the first quarter of 2020. The subsequent phases are intended to be finished in the course of 2020. The wind park when fully constructed is expected to reduce carbon emissions by more than 4.86 tons per year and provide 780,000 of households in Ukraine with electricity.
INTEGRITES was retained by the sponsors as local counsel on overall aspects of financing, construction, regulatory, corporate and other development matters related to the project. In particular, the advice included structuring, advice on capital and exchange controls, review of the project and finance documentation as well as complex advice on the FiT regime, the PPA and the grid connection agreement.
«We are delighted to see that this pioneering and large-scale wind energy project has successfully achieved the financial close. Above all, this project will have a positive social and environmental impact for the region and we are proud to have contributed to promoting the sustainable development of Ukraine”, – comments Igor Krasovskiy, partner and project lead at INTEGRITES.
«I am very proud to see INTEGRITES helping to implement the second wind farm project financing in Ukraine after the Syvash deal, closed by our team a few months earlier this year. I am sure that reaching financing for the remaining 402 MW will be as successful as this deal», – said Dr. Oleksiy Feliv, Managing Partner at INTEGRITES.
INTEGRITES team included, among others, Managing Partner Dr. Oleksiy Feliv (Energy and Real Estate), partners Igor Krasovskiy (Finance/Projects), Illya Tkachuk (M&A and Corporate), Viktoriya Fomenko (Tax and Customs law), counsels Serhii Uvarov and Gennadii Roschepii, senior associates Olena Savchuk, Inna Kostrytska and Yuriy Korchev, associates Oleh Kotliar and Victoriia Shvydchenko.
About Longwing
LONGWING ENERGY SCA is a European IPP platform which acquires, constructs and long-term operates onshore wind and solar parks in Europe. LongWing Energy owns a pipeline of operating and development wind park projects of approx. 900 MW located in France, Poland and Ukraine. The company has a growth strategy targeting additional markets.
About INTEGRITES
INTEGRITES is a full-service law firm with headquarter in Ukraine. Particularly focused on renewables, the firm represents the biggest international clients with a cumulative commitment to 2 GW of wind and 500 MW solar power projects in Ukraine which ensures the firm’s leading position on the regional market. For more information visit www.integrites.com
DEVELOPMENT, INTEGRITES, LONGWING ENERGY, WIND FARM, ZAPORIZHIA
The construction of a new terminal of Zaporizhia Airport should be completed in December 2019 to handle flights of Dnipro Airport during the reconstruction of the latter. President Volodymyr Zelensky set the task when visiting the terminal construction site, the president’s official website said.
The terminal is designed to receive 1 million passengers per year.
According to Zaporizhia Mayor Volodymyr Buriak, the airport has more than UAH 50 million in net profit.
The passenger flow of the Zaporizhia international airport in May 2019 totaled 50,000 people, which is almost 40% more than a year ago.
According to a posting on the website of the airport, almost 40,000 passengers (a rise of 40%) were serviced on international routes, and 9,700 passengers (a rise of 35%) on domestic routes.
In January-May 2019, a total of 185,000 passengers used the airport’s services, which is 20% more than a year ago. Over 136,500 persons were serviced on international flights and almost 50,000 – on domestic flights.
As reported, the Zaporizhia airport serviced 400,300 passengers in 2018, which is 15% more than in 2017.
The Ukrainian airline SkyUp from May 25, 2019 started servicing regular flights from Kharkiv and Zaporizhia to Barcelona (Spain).
Regular flights on the Kharkiv-Barcelona and Zaporizhia-Barcelona routes will be operated twice a week: on Wednesdays and Saturdays. These are the first direct flights from Kharkiv and Zaporizhia to Barcelona.
The cost of one-way tickets for the flight from Kharkiv starts from UAH 2,900.
In addition, in summer, SkyUp will also operate charter flights from Kharkiv to Sharm el-Sheikh (Egypt), Tivat (Montenegro), Monastir (Tunisia) and Antalya (Turkey).
Along with flights to Barcelona, in the coming months, the airline will launch regular flights from the Kharkiv International Airport to five destinations at once: June 2 to Odesa and Rimini (Italy), June 4 to Kutaisi (Georgia), June 6 to Larnaca (Cyprus), and on June 11 to Paris (France).
The airline also said that flights to Barcelona from Odesa will be operated during the summer navigation period – from May 25 through October 26. The one-way ticket price starts from UAH from 2,500.
SkyUp Airline LLC was registered in Kyiv in June 2016. The founder of SkyUp was ACS-Ukraine belonging to Tetiana Alba and Yuriy Alba, who also own JoinUp! tour operator.
The Zaporizhia International Airport serviced 96,624 passengers in January-March 2019, which is 17% more than during the same period in 2018, according to a posting on the company’s website.
The number of passengers on international flights increased by 19.2%, to 69,790 people, and the number of passengers on domestic flights rose by 11.1%, to 26,860 people.
The total number of passengers using services of the Zaporizhia Airport grew by more than 17.4%, to 35,800 people, in March.
The number of passengers on international flights increased by more than 17%, to 25,330 people, and the number of passengers on domestic flights grew by 18.4%, to 10,480 people, in March.
As reported, the Zaporizhia Airport serviced 400,300 passengers in 2018, which is 15% more than in 2017.
The Zaporizhia International Airport was opened in 1945. It provides for take-off/landing on two runways (artificial and unpaved).
Ukraine’s SkyUp airline will service flights from Zaporizhia to Barcelona and from Kharkiv to Barcelona, Larnaca, Rimini and Kutaisi, the airline has reported.
Flights Zaporizhia-Barcelona and Kharkiv-Barcelona will be serviced from May 25, 2019 on Wednesdays and Saturdays, the price of one-way tickets without luggage starts from UAH 2,875 and UAH 3,025, respectively.
Flights Kharkiv-Larnaca will be operated from May 30 on Thursdays, the price of one-way tickets starts from UAH 2,346.
Flights Kharkiv-Rimini will be launched from June 2 on Sundays, the one-way ticket price starts from UAH 2,617, Kharkiv-Kutaisi – also from June 2 on Tuesdays and Fridays, with one-way tickets price starting from UAH 2,210.
In October 2018, SkyUp received a Third Country Operators (TCO) certificate that allows flying to 28 countries of the European Union, as well as to Switzerland, Norway, Iceland, and Liechtenstein.
SkyUp Airline LLC was registered in Kyiv in June 2016. The founder of SkyUp was ACS-Ukraine belonging to Tetiana Alba and Yuriy Alba, who also own JoinUp! tour operator.
