Polenak Law Firm Advised on the Largest Privately Owned Local Investment in Renewable Energy in North Macedonia
Polenak Law Firm Advised on the Largest Privately Owned Local Investment in Renewable Energy in North Macedonia
Polenak Law Firm advised Thor Impex DOOEL Skopje and its owners in the largest privately owned local investment in renewable energy in North Macedonia, a 36MW wind farm Bogoslovec.
The teams assisted in the real estate and regulatory matters, contracts with the suppliers and the grid operator, corporate restructuring and equity investments, and provided full support in arranging up to EUR 57.7 million loan by a syndicate of foreign and domestic creditors. It took over two years, with challenges on multiple fronts, starting with obtaining land use rights, negotiating contracts and ending with the creation of security structure which is not regulated nor common in the local market, such as use of security agent and parallel debt structures.
Project Bogoslovec represents a major renewable energy generation project in North Macedonia, and Polenak Law Firm would like to congratulate the parties on the completion of the financing stage. The firm wishes Thor Impex success in the construction stage and prosperous operation of the wind farm.
Polenak Law Firm advised Thor Impex DOOEL Skopje and its owners in the largest privately owned local investment in renewable energy in North Macedonia, a 36MW wind farm Bogoslovec.
The teams assisted in the real estate and regulatory matters, contracts with the suppliers and the grid operator, corporate restructuring and equity investments, and provided full support in arranging up to EUR 57.7 million loan by a syndicate of foreign and domestic creditors. It took over two years, with challenges on multiple fronts, starting with obtaining land use rights, negotiating contracts and ending with the creation of security structure which is not regulated nor common in the local market, such as use of security agent and parallel debt structures.
Project Bogoslovec represents a major renewable energy generation project in North Macedonia, and Polenak Law Firm would like to congratulate the parties on the completion of the financing stage. The firm wishes Thor Impex success in the construction stage and prosperous operation of the wind farm.
