INTEGRITES advises NBT on signing EPC contracts and preliminary financing arrangement agreement to finance the largest onshore wind farm in Europe

INTEGRITES acted as a local counsel to NBT, a Norwegian wind power developer and one of the largest foreign investors in Ukraine, on signing two Engineering, Procurement and Construction (EPC) contracts for the 300 MW second stage and 450 MW third stage of the Zophia wind park in Ukraine (“Zophia II” and “Zophia III” respectively). The EPC contracts have been signed in Beijing with China Electric Power Equipment and Technology Co, Ltd. (“CET”), the EPC subsidiary of State Grid Corporation of China.

INTEGRITES has supported NBT on all the local legal issues with respect to Zophia projects starting with the acquisition of the project company and following with the comprehensive advice on land, construction, financing and development matters.

With the total investment of approximately EUR 1 billion, the Zophia wind park is a unique project both for Ukraine and Europe. Once completed, the wind farm will become Europe’s largest onshore facility supplying electricity for up to 350,000 households in Zaporizhia region.

At its full capacity, the project will consist of 180 wind turbines and produce 2,900 GWh of power annually. The wind park is expected to reduce CO2 emissions by 1,600,000 tons per year and provide up to 2,000 jobs during its construction. Electric power generated from Zophia will be sold to Ukraine’s Guaranteed Buyer – the state-owned company which is a wholesale electricity market operator.

The team led by INTEGRITES Managing Partner Oleksiy Feliv included Partners Viktoriya Fomenko and Igor Krasovskiy, Counsel Gennadiy Roschepii, Senior Associate Dmytro Kiselyov, Associates Olena Zhydenko and Alina Trofimova.

“It has been an honor for the whole INTEGRITES team to support NBT on the acquisition and development of Zophia wind projects which are to become the largest onshore facility on the continent. These projects became possible due to the consistent approach of Ukraine towards the development of the renewables sector. We hope that this will be the case also under the new Government. Meanwhile, we continue working on the financing of Zophia projects”, INTEGRITES Managing partner Dr. Oleksiy Feliv commented.