European energy and infrastructure deal of the year
Ukraine powerhouse Sayenko Kharenko scoops the prize for energy and infrastructure deal for its work on the complex financing of the state nuclear operator, which required multiple innovative credit enhancements in the context of the reform of public procurement and new state aid law, as well as overlapping currency controls introduced by the central bank to ensure FX market stability. The project and associated due diligence required the combination of expertise from multiple practices and industry groups within the firm.
The significance of the project for Ukraine as a whole was enormous, since it will create a safe environment for processing, storing and safeguarding significant quantities of nuclear spent fuel. The facility will not only reduce the need to ship the spent fuel to Russia but importantly, will increase capacity to store spent fuel moving Ukraine closer to energy independence. The judges lauded the way that the firm dealt with the ‘complex technical and legal challenges around the financing and security element’ as well as the navigation through the new state aid regime.
Advokatfirmaet Simonsen Vogt Wiig
Alber & Geiger