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Broad Street Capital Group Named Exclusive Financial Advisor Of $120 Million Ukraine Power Plant Project

January 18, 2007

NEW YORK - Broad Street Capital Group announced today its appointment as the exclusive financial advisor to State Enterprise Production Association Southern Machine-Building Plant named after A.M. Makarov (PA Yuzhmash) in the reconstruction of a combined heating and power plant (CHP) in the Ukraine. The estimated $120 million project will be developed in Dnipropetrovsk and will be financed through a combination of senior debt from commercial banks and international financial institutions, export trade finance, carbon credits and government funding.

"We are delighted to have been selected as the financiers for this extraordinary project," stated Alexander M. Gordin, Managing Director of Broad Street Capital Group. "Not only is this project a fine example of energy efficiency and industrial modernization taking place in Ukraine, but it is also a tremendous illustration of US-Ukrainian commercial cooperation," continued Mr. Gordin. are confident that our international merchant banking expertise coupled with our extensive experience in financing complex state-owned industrial projects will be pivotal to the success of this exciting venture."

At an invitation-only ceremony this afternoon at the Premier Palace Hotel in Kiev, the Management of PA Yuzhmash revealed that once completed, the CHP will have a power generation capacity of 122MW. This significantly increased output will allow for the servicing of the electrical needs of the approximate 200,000 residents of Dnipropetrovsk as well as generate substantial electrical energy capacity to sell into the electrical grid and will create a self-sufficient plant providing all of CHPs energy needs.

Featuring state-of-the-art gas turbines from one of the world’s leading manufacturers, the power plant will be gas fired, and will also provide for the use of alternative fuels such as coal or biomass.

In addition to its role as the exclusive financial advisor to the management of Yuzhmash CHP project, Broad Street Capital Group has been awarded a $696,000 contract supported by a United States Trade and Development Agency grant of $556,929 to perform the technical, economic and financial feasibility study to be used by the project sponsors to determine the best allocation of resources and provide detailed project information to potential lenders, equity investors and government officials. Bridgestone Associates Limited, an energy service firm based in Chadds Ford, Pennsylvania, has been selected as the engineering consultant on the feasibility study project.

ABOUT BROAD STREET CAPITAL GROUP
Based in the heart of the financial district of New York City, Broad Street Capital Group is an international private merchant bank with offices and affiliates in Kiev, Moscow, and Toronto. Founded in 1996, the firm carries on centuries of honored merchant banking traditions, providing a comprehensive array of services to international private and state owned companies, including merchant banking, trade and project financing, strategic business development and professional business services.


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U.S. Embassy Press Release
yuzhmash Press Release


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