AVELLUM acted as the legal counsel to Investment Capital Ukraine (“ICU”) on the establishment of a joint venture with VR Capital Group to develop a 34.75 MW photovoltaic solar power plant in Kherson region.

AVELLUM provided legal support to ICU in negotiating and signing the transactional documents, as well as in completion of the transaction.

AVELLUM’s partner Yuriy Nechayev commented on this transaction: “We were honoured and delighted to represent ICU in yet another M&A transaction in the renewable energy sector. We truly appreciate that our clients do not only give us an opportunity to work on the most sophisticated and challenging transactions on the market, but also allow us to contribute towards upgrading our country.”

ICU is an independent asset management, private equity, and investment advisory firm specialising in the emerging markets of Central and Eastern Europe.

VR Capital Group is an alternative asset manager focused on distressed securities and event-driven/special situations investments with a strong historical orientation towards emerging markets. VR Capital Group operates offices in London, New York, and Moscow and has a presence in Buenos Aires.

The AVELLUM team was led by partner Yuriy Nechayev, with support from associates Dmytro Symbiryov, Vladyslav Aleksandrov, and Daryna Mykhailenko.