Dentons has advised Enlight Renewable Energy on the construction and EUR 115 million financing of the 105 MW Selac wind farm in Kosovo. The EBRD provided EUR 57 million of the total amount, with Erste Group Bank and NLB Bank providing the remaining EUR 58 million, and with coverage provided by the German export credit agency Euler Hermes. The lenders were reportedly advised by White & Case.
Enlight is the majority owner of Sowi Kosovo, which is developing the wind farm project in the Mitrovica municipality of the country, alongside partners from Germany and Kosovo.
According to Dentons, “the financing documentation was subject to laws in eight jurisdictions: Kosovo, Israel, Germany, the UK, US, Slovenia, Hungary, and Austria. This project will make an important contribution to Kosovo’s efforts to mitigate climate change. When complete, the Selac wind farm will reduce carbon dioxide emissions by 247,000 tons a year.”
Dentons' team included Partners Arkadiusz Krasnodebski and Mateusz Toczyski, Managing Counsel Agnieszka Kulinska, Counsel Agnieszka Lipska, and Associate Lukasz Blaszczak.