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Kinstellar advises Vetroelektrane Balkana (WEBG) in relation to the financing of the largest wind farm project in Serbia

January 2018 - Zajednička advokatska kancelarija Marić i Mujezinovć in cooperation with Kinstellar (“Kinstellar”) acted as the local legal advisor to Vetroelektrane Balkana (WEBG) in relation to the EUR 300 million financing of the largest wind farm project in Serbia. Kinstellar also advises WEBG locally on various project development issues.

Čibuk 1 wind farm with 158 MW capacity is the largest wind farm project to date in Serbia and Western Balkans. The wind farm will be located in the area belonging to Kovin municipality and will comprise 57 wind turbines to be supplied by GE Renewable Energy.

Abu Dhabi Future Energy Company (Masdar), one of the leading companies focusing in renewable projects, holds a 60 per cent stake in Tesla Wind, which is the sole owner of WEBG. Masdar is wholly-owned by Mubadala Investment Company (Mubadala) of Abu Dhabi.

The lenders include European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC), which are joined by B lenders comprising Banca Intesa, Erste Bank, UniCredit, and The Green for Growth Fund.

Kinstellar team was led by partners Branislav Marić and Selma Mujezinović and also included Tijana Arsenijević (senior associate) and Tamara Zejak (associate). A number of other members of Kinstellar local and regional teams assisted throughout the duration of the project including: Kristóf Ferenczi (partner – Budapest), Balázs Sepsey (managing associate – Budapest), Dragana Bajić (managing associate – Belgrade), Andreja Vražalić (senior associate – Belgrade), and Una Draganić (trainee – Belgrade).

For more information please contact partners Branislav Marić, at

e-mail

, and Selma Mujezinović, at .