Founder and General Director of Energy Consulting Group. Mr. Sheberstov is a former Minister of Energy of Ukraine (1995-1996, 1997-1999), First Deputy Minister of Fuel and Energy (2004), Deputy Minister of Fuel and Energy (2006-2007), Advisor on energy issues to the Vice Prime Minister of Ukraine (2004), Advisor to the Head of the Parliament Fuel and Energy Sector Committee (2003-2004), Advisor to the Secretary of the National Security Council of Ukraine, Member of the Advisory Council of the Ministry of Fuel and Energy (2001-2003), Head of the Public Council of the Ministry of Fuel and Energy (2005).

Mr. Sheberstov was in charge of restructuring of the Ukrainian power sector in 1995-1998, unbundling of integrated utilities, creation of electricity market, development of the concept of privatization of power distribution and generating companies. He was member of the Government Interagency Commission responsible for preparing the Wholesale Electricity Market Development and Reform Concept (2002) as well as member of the Government Interagency Commission responsible for preparation of the National Energy Strategy of Ukraine.

Before Government work, Mr. Sheberstov was Deputy Director on production at Donbassenergo and Chief Engineer of Kyiv CHP-5 and CHP-6.

Founder and General Director of INEKO-Management. Prior to the beginning of her carrier in consulting and investment business in 1994, Dr. Kulagina was senior lecturer of Kyiv National Economic University. She specializes on economic, legal and regulatory aspects of energy sector’s functioning, strategy development, market design, pricing and tariff issues, privatization and restructuring, corporate governance, development of investment projects. For several years Dr. Kulagina was a member of the Advisory Council of the Ministry of Fuel and Energy. She was involved in the capacity of project manager or senior advisor in practically all projects presented in our track record below.

Dr. Kulagina participated in drafting various legal and normative documents regulating the functioning of the wholesale electricity market, restructuring of power sector and privatization of power companies. She was a member of the Government Interagency Working Group chaired by NERC and responsible for preparation of the Wholesale Electricity Market Development and Reform Concept in 2002. Dr. Kulagina is the author of the Law “On Arrangements Aimed at Stable Operation of Enterprises in the Fuel and Energy Sector” approved by the Parliament in 2005.

Founder and Director of EnCoG. Mr. Semenuk is a former Minister of Energy of Ukraine (1994-1995), Deputy Minister of Energy (1980-1993), Member of the Advisory Council of the Ministry of Fuel and Energy, General Director of Kyivenergo vertically integrated power company (1977-1979), Chief Engineer of Lvivenergo vertically integrated power company (1969-1977), Chief Engineer of Burshtyn Thermal Power Plant (1966-1969).

Mr. Semenuk graduated from Odessa Polytechnic Institute with master degree in power engineering. Working at the Ministry of Energy, Mr. Semenuk supervised capital investments, construction and commissioning of new energy objects. He has unique in-depth knowledge of all key segments of power sector, including thermal, nuclear and hydro generation, cogeneration, power transmission by high voltage networks, distribution and supply. Mr. Semenuk was actively involved in developing the concept of reforms in the power sector of Ukraine in mid-90s and creation of electricity market.

Since foundation of EnCoG in 1996, Mr. Semenuk has been in charge of coordinating all feasibility studies and independent project reviews performed for international financial organizations, international investors and numerous Ukrainian power companies. He was in charge of structuring investment projects on construction of Dniester Hydro Pumped Storage Plant and Dobrotvir Thermal Power Plant-2. Mr. Semenuk is co-author of the Concept of Electricity Export Expansion from Ukraine.

Founder and General Director of IMEPOWER Consulting. Dr. Kubrushko graduated from Kyiv National Economic University and started his career in consulting and investment business in 1997 when he advised AES Corporation and Tractebel on investment opportunities in power and gas sectors of Ukraine. From 1999 until 2003, he was Deputy Project Director of the USAID project performed by Deloitte Touche Tohmatsu EMG providing assistance to the Government with privatization of power distribution and power generating companies.

Since 2003 Dr. Kubrushko has been advising international clients on investment and market entry strategies in Ukraine with focus on structuring and development of investment projects in power and gas sectors, due diligence and valuation of assets, preparation of risk mitigation schemes. He was involved in such projects as construction of Dniester Hydro Pumped Storage Station, reconstruction of hydro power plants in the Western Ukraine, construction of the back-to-back station between Ukraine and UCTE, construction of CCGT power plant in Crimea, reconstruction of the high voltage power transmission line from Moldova TPP to the substation Isaccea.

Dr. Kubrushko was in charge of valuating several Ukrainian power distribution companies for the London Court of International Arbitration, coordinated due diligence of Mold TPP in Trans Dniester Republic and power distribution company in the Eastern Ukraine for European investment banks, was involved in assessment of the investment program of Ekibaztus TPP in Kazakhstan for the Asian Development Bank.

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