Kinstellar, Shearman & Sterling, and Radonjic Associates have advised Masdar on its acquisition of a 49% share in Krnovo Green Energy from a subsidiary of Akuo Energy. Cleary Gottlieb Steen & Hamilton and Karanovic & Partners advised Akuo Energy, while Allen & Overy acted as general counsel for the lenders.
Vladimir Radonjic, the Managing Partner of Radonjic Associates in Montenegro, reflects back on his Buzz interview in June 2017. "2018 has brought a lot more stability in terms of local politics, and the local economy is in better shape,” he says. "As you remember, in 2017 we joined NATO, and it seems the expectations people had that it would result in more stability have proven correct.”
The plans to regulate public-private partnerships have been in the program of the Montenegrin Government for at least ten years now. Despite its central importance to both the public and private sectors, a specific legislative and institutional framework in the area of PPPs is still not in place. Instead, PPPs are regulated by laws from several sectors and by the Law on Concessions. The main authoritative bodies in charge of implementing PPP projects are the Privatization and Capital Investment Council and the Concession Commission.
“You cannot really start with the legal industry before you understand the political moment in the country” says Vladimir Radonjic, the Managing Partner of Radonjic / Associates in Montenegro, when asked for the Buzz in his country. “Politics has been the main subject of conversation in the country for the last 12 months.”