BDK Advokati has advised sustainable infrastructure fund Alcazar Energy on its acquisition of the 118-megawatt Bijela wind farm project in Montenegro. Karanovic & Partners advised project developers Simes Inzenjering and Sistem MNE on the sale.
According to Karanovic & Partners, the sellers will remain on board and continue to support and work on the development of the Bijela project. "With an estimated value of the investment at EUR 200 million, Bijela is expected to become one of the largest wind farms in the region and represents a significant milestone for Montenegro on its road to increasing the stake of clean, green energy in overall energy production."
"This grand-scale project has attracted the attention of several prominent financial institutions, which have shown interest in providing financing for the further development and construction of the project. Construction itself is expected to commence in early 2025," Karanovic reported.
"We are excited to announce our new partnership with Alcazar Energy to complete the development of Bijela and bring it to construction," Simes Inzenjering Manager Slaven Milic commented. "This collaboration combines the experience of Simes Inzenjering and Sistem MNE in developing other complex projects in Montenegro with Alcazar Energy’s expertise in catalyzing early vintage renewable energy projects, bringing foreign direct investment, project finance, as well as industrial and technical expertise."
The BDK team was led by Senior Partner Luka Popovic and included Partner Milan Dakic.
The Karanovic & Partners team was led by Partner Petar Mitrovic and included Senior Associate Sandra Perisic and Associate Jelena Tripkovic.