CMS Belgrade provides full legal support in refinancing Alibunar wind farm
CMS Belgrade fully supported UniCredit Bank Serbia in the refinancing of Elicio’s Alibunar wind farm.
UniCredit Bank Serbia and Elicio Ali VE, a wholly-owned subsidiary of Elicio NV, successfully completed the refinancing operation for the 42 MW Alibunar wind farm in the third quarter. CMS Belgrade law firm prepared all financing documents for UniCredit Bank Serbia as the only lender in the EUR 53 million refinancing.
âWe are proud that Elicio has once again recognized our bank as a reliable partner for the first refinancing of an operational wind farm in Serbia. This is a clear example of how banks and the renewable energy sector can help improve overall energy security and renewable energy consumption in Serbia, âsaid Nikola VuletiÄ, Chairman of the Board of Directors of UniCredit Serbia.
CMS Belgrade’s team of experts led by partners Ivan GazdiÄ and Milica PopoviÄ provided comprehensive legal support at every phase of this landmark refinancing, from legal due diligence review to comprehensive advice on multiple regulations, the real estate, business, project finance and more. legal issues and drafting of financial documents.
Other team members include Ksenija Boreta, Marija MaroÅ¡an, Igor ÄorÄeviÄ and Teodora VujoÅ¡eviÄ.
âThis refinancing represents an important milestone for the Serbian renewable energy market as it affirms the strong fundamentals of the project and the bankable regulatory environment for renewable energy production in Serbia. The transaction also confirms the financing available on the Serbian market to locally finance well-structured projects and do so over longer periods. These are crucial conditions for realizing Serbia’s considerable ambitions in terms of increased contribution of wind energy to the energy mix, an area in which Elicio will continue to actively participate â, said Alain Janssens, Managing Director of Elicio.
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