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.
After the transaction, Akuo retained a 51% share in Krnovo Green Energy, which holds the operating license for the 72 megawatt Krnovo wind-farm project in Montenegro.
Masdar, which is headquartered in Abu Dhabi and is also known as the Abu Dhabi Future Energy Company, is a developer and operator of utility-scale renewable energy projects, community grid projects, and energy services consultancy. The company was established in 2006.
Akuo Energy is a French independent renewable energy power producer. Headquartered in Paris, the company operates in 14 other countries around the world, including the US, Uruguay, Indonesia, Turkey, Poland, Croatia, Australia, Luxembourg, Mongolia, the Dominican Republic, Mali, Bulgaria, Argentina, and the UAE.
The Kinstellar team was led by Belgrade Managing Partner Branislav Maric and included Senior Associate Andreja Vrazalic and Associate Tamara Zejak.
The Karanovic & Partners team was led by Partner Petar Mitrovic and included Senior Associate Milena Roncevic Pejovic and Associate Luka Prelevic, all independent attorney at law in cooperation with Karanovic & Partners.
The Radonjic Associates team consisted of Managing Partner Vladimir Radonjic and Partner Maja Velimirovic.
The Cleary Gottlieb team was led by Paris-based Partner Barthelemy Faye and included Brussels-based Senior Attorney Christophe Wauters.