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Dentons and BASEAK advise ENERGO-PRO on financing of Alpaslan II Project

Dentons and Balcioglu Selcuk Akman Keki Avukatlık Ortaklığı (BASEAK) advised Czech-based hydroelectricity group ENERGO-PRO on securing €175 million financing for the development, construction and operation of the Alpaslan II dam and hydro power plant in Turkey. ENERGO-PRO operates hydropower plants in Central and Eastern Europe, the Black Sea and Caucasus. Its Alpaslan II project is located on the Murat river in Muş province, Turkey, and will have a licensed generation capacity of 280 MW.

The financing was arranged by MUFG Securities EMEA plc and Česká exportní banka (Czech Export bank), and is partially backed by the Export Guarantee and Insurance Corporation (EGAP).

Within the scope of this transaction, Dentons also advised on the power purchase agreement and construction contract for Alpaslan II.

Istanbul-based Banking and Finance partner Tamsyn Mileham led the Dentons team working on the transaction, with support from Banking and Finance partners Jiří Tomola and Tomáš Osička in Prague, Infrastructure partner Ian McGrath in Istanbul and Energy partner Petr Zákoucký in Prague. The team also included lawyers from BASEAK in Istanbul - counsels Ceren Su and Yasemin Saris and associates Fulya Görer, Canberk Varis and Sena Mutlu - and Dentons associates Martin Manduľák and Martin Fiala in Prague.

Christian Blatchford, ENERGO-PRO’s General Counsel said: "We were pleased to have Dentons by our side in this transaction that required an experienced cross-border and cross-practice team. I was impressed by the team’s skills and performance.”

Tamsyn Mileham commented: "We were delighted to act for ENERGO-PRO on this transaction which demonstrates our cross-border capabilities, with our teams in Istanbul and Prague working closely to deliver a successful outcome for our client.”

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