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Norway's NBT has completed the acquisition of 82% of Azovinvestprom LLC

Norway's NBT has completed the acquisition of 82% of Azovinvestprom LLC, which will build a wind farm with a capacity of 750MW for $1 billion in Zaporizhia region under the Zofia project.

NBT, which builds a Sivash wind farm on the border with Crimea, has acquired Azovinvestprom, which will start to build a 750-megawatt wind power plant in Zaporizhzhia region.

Managing Partner of Integrites, which acted as a legal advisor to NBT in the deal, Oleksiy Feliv said the first phase of construction will start in six months. At present, the legal advisor is bringing the project in line with international standards to organize international loans.

It is noted that the estimated cost of construction of the power plant in Zaporizhia region is 1 billion dollars. The first phase of its construction should begin in six months, in the fall of 2019.

Together with the Sivash wind power plant, the capacity of the NBT wind power plants in Ukraine can reach 1000 megawatts.

The funds were partially provided by the EBRD, with a loan of USD 150 million.

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