750 kV power transmission line reconstruction project
Name: 750 kV power transmission line reconstruction project
Project Director: Yuri Kubrushko
Deputy Project Director: Olga Gruzhinskaya
Senior Financial Experts: Olga Gruzhinskaya, Oleksii Romanov
Senior Legal Expert: Oleg Dovzhenko
Client: Consortium South Energy Company (Odessa)
Funding source: European investor
Duration: 2007-2009
Description: structuring of the PPP between transmission system operator Ukrenergo and private European investor for reconstruction of 750 kV high voltage transmission line South Ukrainian NPP-Isaccea, establishing JV between TSO and investor in the form of Consortium, “turn key” institutional support to the Consortium
Tasks/activities performed:
- institutional and corporate development support to the Consortium
- drafting of accounting manuals for bookkeeping of the Joint Activity operations
- weekly financial reporting to the Consortium’s founders
- project structuring as Joint Activity between TSO, investor and the Consortium
- establishment of the Consortium as joint venture (project) company between TSO and investor
- getting approvals from the Ministry of Fuel and Energy and Antimonopoly Committee
- recruitment of the Consortium’s management team
- supervision of the project implementation
- supervision of the Consortium’s financial operations
- preparation of financial model of the project
- drafting of the Consortium’s statutory documents and internal procedures
- legal advising to the Consortium’s staff on legal and regulatory issues
- arrangement of procurement process in line with effective local regulations and international best practice
- drafting of contracts with service providers (design works, land allotment, etc)
- development of the “stage-by-stage” project development and implementation road map with identification of key permits and licences to be received at each stage
- review of electricity market and regulatory framework in Ukraine, Moldova, Romania and Hungary
- drafting of the power purchase agreement with generation plant in Moldova
- legal support of negotiations with Romanian and Hungarian TSOs
- development of electricity export scheme with target markets being Romania and Hungary
- coordination of work on land allocation (lease, servitude agreements with more than 800 land owners)
- coordination of the process of receiving licenses and permits necessary for construction of the HVL (Ukraine and Moldova).
