Norton Rose Group has been appointed by JSC “INTER RAO UES” to advise on overall legal aspects in connection with the development of the banking feasibility study for the project to attract external investments in the construction of the Baltic nuclear power plant (Baltic NPP).
The plant will be located in the Neman district of the Kaliningrad region. The electric power capacity of its two units will be 2,300 megawatts. The construction of the first and second units will be completed in 2016 and in 2018 respectively. This 5 billion Euro project will help to solve the problem of energy supply in the Kaliningrad region and stimulate further development of its economics.
Valentina Gluhovskya, Head of the Moscow office at Norton Rose Group, commented: “One of the keys to the success of this project is the ability to bring together legal experts in infrastructure, finance, regulatory and environmental and climate change. We are pleased to offer our services to JSC “INTER RAO UES” and be a part of this groundbreaking project.”
Maxim Kozlov, Head of Baltic NPP Project Team, JSC “INTER RAO UES”: “Norton Rose Group is highly recognised expert in legal support of nuclear power projects. The Group has diverse and considerable competences in advising existing nuclear plants as well as new built nuclear projects, which is essential for Baltic NPP project. As we know, currently Norton Rose is taking part in several projects in UK, Middle East, Romania and Bulgaria. Besides that the services of the Group include advising on nuclear fuel supply and leasing, reprocessing, MOX fuel and the transportation of nuclear materials. Those were the main reasons the Norton Rose Group was chosen as a winner of a tough open competition with other international legal firms to take part in the development of the banking feasibility study for Baltiс NPP”.
The team of legal experts of Norton Rose Group will advise on construction, operating, financing, environmental, infrastructure, licensing, permitting and transmission aspects of the project.
The team is co-led by Valentina Gluhovskaya (Partner, Moscow) and Richard Metcalf (Partner, London). The core team consists of Rafal Hadjuk (Partner, Warsaw), Fiona Reilly (Head of Nuclear Services, London), Steffan Shute (Senior Associate, London), Nane Oganesyan (Senior Associate, Moscow ) , Elena Razina (Associate, Moscow) and Evgeny Stepanov ( Associate Moscow).
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