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​​Karanovic & Nikolic Advises Elicio Financing From UniCredit for Malibunar Wind Park

​​Karanovic & Nikolic Advises Elicio Financing From UniCredit for Malibunar Wind Park


Karanovic & Nikolic has advised the Belgian renewable energy group Elicio NV on the EUR 9.8 million financing its wholly-owned subsidiary Electrawinds Mali WF d.o.o. received from UniCredit Bank Serbia for the development, construction, and operation of the Malibunar wind park.   

UniCredit Bank Serbia is the sole lender for the project, with funds provided within its Green for Growth Fund credit line. The financing is also complemented by a short term VAT bridge financing and interest rate hedging arrangements. After the signing of the financing agreement, the first debt disbursement, in the amount of EUR 3.2 million, took place on August 31, 2017.

The construction of the wind park began in November 2016, and the total value of the investment is around EUR 14 million. The project has the temporary status of a privileged power producer and a power purchase agreement was signed with the Serbian power utility Elektroprivreda Srbije. Elicio NV is a subsidiary of the Nethys Group – an energy and telecommunications groups from Belgium.

The Karanovic & Nikolic team was led by Partner Maja Jovancevic Setka and Senior Associates Petar Mitrovic and Ivona Vuckovic. 

Serbia Knowledge Partner

Karanović & Nikolić is a leading international legal practice in South East Europe that offers unrivalled regional and sector specific coverage to investors. As a market leading practice, our dedication, quality legal service, and in-depth understanding of the needs of our clients stands out as a differentiating factor. With over 100 advisors across the region, our original values remain an integral part of our philosophy and approach to client work. Karanović & Nikolić has been involved in many of the largest and most complex transactions in the region and we take pride in our reputation as a regional transactional and corporate/commercial legal powerhouse.

Because we have an active business presence in Bosnia & Herzegovina, Croatia, Macedonia, Montenegro, Serbia and Slovenia, we operate seamlessly across all of these jurisdictions, providing regional services to our clients, while taking into consideration local particularities in order to provide the best legal advice under competitive terms. Renowned for the quality of our lawyers and our commercial approach to solving problems, Karanović & Nikolić advises many of the leading companies, banks, investors and government institutions doing business in the SEE region.

All News about, and Legal Analysis by, Karanovic & Nikolic can be found here.

Firm's website: https://www.karanovic-nikolic.com/


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