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Closing: HE Dabar and CEXIM Bank EUR 190 Million Financing for HPP Development Now Closed

Closing: HE Dabar and CEXIM Bank EUR 190 Million Financing for HPP Development Now Closed

Bosnia and Herzegovina
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On March 20, 2023, Sajic announced that the EUR 190 million financing transaction between the Export-Import Bank of China and HE Dabar for the development of the Dabar hydropower plant (reported by CEE Legal Matters on January 19, 2022) had closed.

According to Sajic, “after approving the loan to a Bosnian institutional company, which is a company owned by the state,” the financing transaction has closed.

As originally reported, Schoenherr advised HE Dabar on the EUR 190 million loan facility received from the Export-Import Bank of China for the development of the 160-megawatt Dabar hydropower plant. Sajic, working alongside Milbank, advised CEXIM on the deal.

The Dabar project will be one of the largest hydropower plants in the region, according to Schoenherr: “Located on the Trebisnjica River in Republika Srpska, Bosnia and Herzegovina, the Dabar plant is expected to produce about 250 gigawatt-hours of electricity per year and is the most significant hydropower plant within the planned Gornji Horizonti hydropower complex. The project company Dabar is a subsidiary of the incumbent power utility of the Republic of Srpska – Elektroprivreda Republike Srpske.”

According to Sajic, “HPP Dabar applied for a loan amount up to 85% of the EPC contract to be entered into by and between HPP Dabar and the China Gezhouba Group Co Ltd, as EPC contractor. The Republic of Srpska provided a Guarantee for the loan in favor of lender HPP Dabar.”

Schoenherr’s team included Partners Matija Vojnovic, Ivana Panic, and Srdjana Petronijevic and Attorneys Jelena Arsic, Bojan Rajic, Minela Sehovic, and Zoran Soljaga.

The Sajic team included Managing Partner Aleksandar Sajic, Senior Partner Sanja Djukic, Senior Associate Milica Karadza, and Associate Nikolina Zubac.

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