The Antimonopoly Committee of Ukraine (AMCU) has allowed Saudi company FAS Energy to acquire control over four solar power plants in Kyiv Region that are part of the portfolio of Ukrainian group SPP Development Ukraine. The regulator adopted the relevant decision on July 2.
According to the AMCU, approval was granted to FAS Energy LLC for the acquisition of stakes in the charter capital of four companies: Borodianka Solar Power Plant LLC, Myhalky Solar Power Plant LLC, Solar Power Plant No. 8 LLC and Solar Power Plant No. 11 LLC. The transaction provides for the transfer of control over these assets to the Saudi investor.
The ultimate beneficial owner of all four companies is Nadiia Petruchenko, who, together with Roman Petruchenko, is a co-founder and co-owner of SPP Development Ukraine LLC.
SPP Development Ukraine specializes in the implementation of renewable energy and energy infrastructure projects. The group provides a full range of services, including development, design, engineering, construction, EPC project management, as well as operation and maintenance of energy assets.
Roman Petruchenko, CEO of SPP Development Ukraine, also serves as Executive Director of the Ukrainian representative office of Saudi company FAS Energy KSA, indicating close cooperation between the parties in the implementation of solar energy projects.
Obtaining AMCU approval is a mandatory stage for completing the transaction and opens the way for the transfer of four solar power plants under the control of the Saudi investor, which continues to expand its presence in Ukraine’s renewable energy market.
