Date: 04 December, 2019

Last month Lithuanian MODUS GRUPE uniting companies operating in the real estate, energy, renewable energy (GREEN GENIUS), and auto-trading markets, has announced commissioning of its first RES project in Ukraine - 14MW solar power plant in the village of Zalukva (Ivano-Frankivsk region).

ETERNA LAW is proud to have art and part in implementation of complex investment programme of MODUS GRUPE in Ukraine, comprising two more RES projects in Zhytomyr region of Ukraine of 35MW total capacity. Commissioning of the latter is expected not later than in 2020. It is expected that overall electricity produced by power plants of MODUS GRUPE will exceed 60GWh per year.

During near two years of sustainable cooperation, ETERNA LAW team led by Maksym Uslystyi, Partner, head of alternative energy practice, Mykhailo Lytvyn, associate and Vladyslav Zastup, junior associate, has been providing MODUS GRUPE with turn-key legal solutions, covering all aspects of: - acquiring all of three projects; - project development, including construction; - regulatory advice and assistance in undergoing authorization procedures; - investment structuring and obtainment of financing; - day-to-day operations support and interaction with supervising authorities; - support of obligatory contractual relations on RES market.

Prior to entering the fray of Ukraine's energy transformation, MODUS GRUPE has already successfully implemented RES projects in Lithuania, Belarus, Poland and Spain.

Based on our experience, we believe that Ukraine has an opportunity to witness a sustainable interest of institutional foreign investors in its market, i.a. RES. Keeping that in mind, we are motivated and delighted with our fruitful cooperation with MODUS GRUPE and avail ourselves of this opportunity to reassure our client of our highest consideration and readiness to provide it with comprehensive legal advice in any area of its interest.