24
Wed, Apr
37 New Articles

Dentons Advises on EUR 205 Million Refinancing of Cibuk Wind Farm in Serbia

Dentons Advises on EUR 205 Million Refinancing of Cibuk Wind Farm in Serbia

Deals and Cases
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Dentons has advised Vetroelektrane Balkana on a EUR 205 million refinancing of the 158-megawatt Cibuk wind farm located in Mramorak, Serbia. CMS reportedly advised the lenders on the deal.

The financing was provided by a consortium of banks consisting of UniCredit, Credit Suisse, Eurobank, and OTP Bank. 

Vetroelektrane Balkana is wholly owned by Tesla Wind, a joint venture between Masdar (Abu Dhabi Future Energy Company), Finnish energy infrastructure developer Taaleri Energia, and DEG, the investment arm of German state-owned investment and development bank KfW.

According to Dentons, “the Cibuk project, developed by Vetroelektrane Balkana, is the largest wind farm in Serbia. It produces up to 457 gigawatt-hours of electricity per year, enough to cover the needs of some 113,000 households, and reduces CO2 emissions by 370,000 tons per year.”

Dentons’ team included Partner Piotr Nerwinski, Counsel Patrycja Polasz, and Associate Wiktor Zien.

Editor's Note: After this article was published, CMS confirmed it had advised the banks. The firm's team included Warsaw-based Partner Rafal Zakrzewski, Senior Associate Przemyslaw Karolak, Associate Marcin Krzemien, and Lawyers Michal Horelik and Jakub Smialek, as well as Belgrade-based Partners Milica Popovic and Ivan Gazdic, Senior Attorney Ksenija Boreta, and Lawyers Jovana Bingulac and Marija Marosan.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

Firm's website.