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May 22, 2015 – Locke Lord LLP advised EBRD on a project finance matter that was selected as the “2014 Best Water Project in Central and Eastern Europe” at the Project Finance Awards announced by EMEA Finance. London Associate Svetlana Sorokina-Wilson, advised on the project.
The project entailed the construction and operation of a 108MW hydropower plant and a substation on the Tergi river in northeastern Georgia, with a total investment cost of up to $123 million, including a senior A/B loan of up to $80 million from EBRD.
EBRD is an international organization owned by 64 countries, the European Union and the European Investment Bank. Formed in 1991, it helps to provide financing for banks, industries and businesses and supports entrepreneurship and open market economies in projects in more than 30 countries, including Europe, Central Asia, the Caucasus, Southern and Eastern Mediterranean, Russia and Turkey.
Locke Lord’s project finance and development lawyers represent clients in a wide range of industries, including traditional and alternative energy, mining and metals, oil and gas, waste and water, telecommunications and infrastructure development in both domestic and international projects. Locke Lord has advised on several notable matters, such as representing EBRD on a long-term corporate loan facility of EUR 200 million to Energa SA and Energa Operator SA as part of the modernization of Poland's electricity distribution network.
About Locke Lord LLP
Locke Lord is a full-service, international law Firm of about 1,000 lawyers working from 23 offices to meet clients’ needs around the world. With a combined history of more than 125 years and a greatly enhanced domestic and global footprint, Locke Lord is a worldwide leader in the middle market sector. Locke Lord advises clients across a broad spectrum of industries including energy, insurance and reinsurance, private equity, telecommunications, technology, real estate, financial services and health care and life sciences, while providing a wealth of experience through its complex litigation, regulatory, intellectual property and fund formation teams.