Dewey and Linklaters line up on $700m Kazakhstan power station financing
Dewey & LeBoeuf has taken the lead role on the $700m (£463m) financing of Kazakhstan's Ekibastuz Power Station, one of the largest coal-fired power stations in the world. The deal secures the financing of the construction of a third unit for the power station that will increase its capacity by 50%.
July 05, 2010 at 11:07 AM
2 minute read
Dewey & LeBoeuf has taken the lead role on the $700m (£463m) financing of the Ekibastuz Power Station in Kazakhstan, one of the largest coal-fired power stations in the world.
The deal secures the financing of the construction of a third unit for the power station that will increase its capacity by 50% and was closed in a ceremony today (5 July) attended by Russian President Dmitri Medvedev and the Kazakhstan President Nursultan Nazarbayev.
Linklaters also took a role on the deal, advising the banks, which included the Russian State Corporation Bank for Development and Foreign Economic Affairs and the Eurasian Bank of Kazakhstan.
Dewey's team was led in Kazakhstan by Almaty partner Aset Shyngyssov, while in London the financing team was led by associate Matthew Hinxman with associate Irina Zghibarti.
Hinxman said: "We have a lot of experience working for Russian banks so it was particularly interesting to work on the borrower side for this transaction, as well as with companies and banks that are all owned or part-owned by the state.
"This deal further enhances our work in emerging markets and our Russian practice and we hope that this will lead to more work of a similar nature."
GRES-2, which is jointly owned by the Kazakhstan and Russian governments, produces 12% of all electricity in Kazakhstan.
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