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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

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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. 

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Karanovic & Partners is a regional legal practice in Southeast Europe with tradition spanning two decades and cooperating offices in Serbia, Croatia, Slovenia, Montenegro, Macedonia and Bosnia & Herzegovina. With more than 100 attorneys at law cooperating across the region, we take pride in our work, dedication and understanding of our clients' industries and needs.

What we do

We work with some of the most respected and reputable businesses in the world, banks, as well as governments, state-owned entities, startups and NGOs. We see our clients as long-term partners.

We focus on straightforward solutions and tailor-made advice. Lawyers cooperating with us are fully immersed in our clients’ culture and industry to ensure that the work is delivered intelligently and reliably.

What sets us apart?

In our company culture, excellence is a must. We are reliable, adaptive and fast.

Karanovic & Partners operates under the “one team” principle, combining our regional reach and local know-how to deliver coordinated legal advice necessary for achieving our clients’ goals.

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

Firm's website: https://www.karanovicpartners.com/


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