Kyiv, 16 March 2023 – Leading global investment firm KKR relied on the legal advice of Wolf Theiss regarding the Ukrainian part of its USD 450 million multinational investment in Hero Future Energies (“HFE”).
On 10 March 2023, KKR and Hero Future Energies (“HFE”), the renewable energy arm of the Hero Group, closed a transaction under which KKR invested USD 450 million in HFE to enable the company to expand its renewable energy capacity and capabilities across technologies such as solar, wind, battery storage and green hydrogen. The investment also aims to support HFE with its expansion into new markets over time.
The Ukrainian office of Wolf Theiss advised KKR on the Ukrainian part of this multinational transaction and the acquisition of the Ukrainian subsidiaries of HFE which own solar power generation facilities in Ukraine. In particular, Wolf Theiss advised on the regulatory aspects of renewable energy, corporate, property and financing matters.
The team was led by Partner Taras Dumych (Corporate/M&A) and included Senior Associates Sergii Zheka (Renewable Energy) and Oksana Volynets (Banking & Finance) as well as Associates Olena Kravtsova (Corporate/M&A) and Olga Ivanova (Real Estate)
“This investment by KKR into HFE, which will also include Ukrainian assets and operations, is evidence of the fact that Ukraine can benefit from globalisation. Not only is the transaction good news for Ukraine and the country’s energy sector, coming in the middle of the challenges of war, but it also emphasises the trust of global institutional investors, such as KKR, in the future of Ukraine. We were delighted to assist with making the Ukrainian part of the transaction happen.”Taras Dumych, Wolf Theiss Partner in Kyiv
The global legal counsel leading the transaction was Simpson Thacher & Bartlett.
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. As one of the largest US private equity firms, KKR sponsors investment funds that invest in private equity, credit and real assets. KKR also has strategic partners that manage hedge funds.
About Hero Future Energies
Hero Future Energies operates in India, Bangladesh, Vietnam, Singapore, Ukraine and the UK. The company is an independent power producer (IPP) with about 1.6 GW of operating assets across utility, commercial and industrial sectors.