North Macedonia's Road to the EU Is Paved with Legislation: A Buzz Interview with Tanja Polenak of the Polenak Law Firm
January 2024
While the legal landscape in North Macedonia might be somewhat stagnant – due to 2024 being an election year – there are still challenging complexities to the judicial reforms on the table, as well as struggles with consistency and knowledge, according to Polenak Law Firm Partner Tanja Polenak.
“It's an election year in North Macedonia and things are pretty static,” Polenak begins. “North Macedonia continues to face significant challenges in the rule of law. Despite numerous laws passed to align with European standards, there's a gap in their proper enforcement and…
Corridor VIII Railway Project
May 2023
North Macedonia's Public Enterprise for Railway Infrastructure Railways is inviting expressions of interest to do supervisory services for the construction of a new railway section from Kriva Palanka to the border with Bulgaria, part of pan-European Corridor VIII. Corridor VIII is an east-west route connecting Albania's Adriatic port of Durres to the Bulgaria's Black Sea port of Varna via North Macedonia.
The assignment is expected to cost EUR 13 million (USD 14 million), excluding VAT. The services are expected to be financed through a grant from the Western Balkans Investment Framework…
SEE Legal Members Assist NIPPON EXPRESS HOLDINGS, Inc. in Acquiring the Shares of the Multiple Subsidiaries of Cargo-Partner Group Holding AG
May 2023
POLENAK Law Firm, NNDKP, and SELIH & Partnerji were part of the international team of advisors that assisted NIPPON EXPRESS HOLDINGS, Inc., one of the world’s leading logistics companies, in acquiring the shares of the multiple subsidiaries of Cargo-Partner Group Holding AG (Cargo-Partner), which provides global logistics services through its main business sites in Central and Eastern Europe.
POLENAK Law Firm advised Nippon Express Holding Inc. on FDI reporting requirements. The team included Kristijan Polenak, Managing partner, and Tatjana Shishkovska, Partner.
NNDKP advised…
Design, Construction, and Management of Photovoltaics in Technological Industrial Development Zones
February 2023
The Directorate for Technological Industrial Development Zones of North Macedonia adopted a decision to initiate a procedure for awarding a public-private partnership contract for the design, construction, financing, management, and transfer of photovoltaic power plants in several technological industrial development zones ("TIDZ") in North Macedonia.
60.60 hectares of land in total will be given to the selected private partner for the above purposes. The objectives of this project are, among others, to increase the production of electricity from renewable energy sources, improve…
Construction of Gas Interconnector Between North Macedonia and Greece
January 2023
North Macedonia's government approved an agreement for advance reservation capacity at the country's planned gas link with Greece. The Advance Reservation Capacity Agreement (ARCA) relates to the advance reservation of capacity at the Greek side of the interconnection point Evzoni/Gevgelija. The agreement between North Macedonia's state-owned company National Energy Resources (NER) and Greek gas transmission system operator DESFA serves to ensure the construction of the gas interconnector between the two countries. The interconnected gas pipeline will allow for diversification, supply…
Secured Funding for the Revitalization of Six Hydro Power Plants
January 2023
The Government of the North Macedonia secured EUR 36.2 million for a new investment in the energy sector that will extend the life of six large hydro power plants (their installed power, and domestic electricity production). The funds are obtained from a EUR 25 million loan from the KfV Development Bank, EUR 11.2 million grant from WBIF, and EUR 0.2 million from the German Government.
The investment will be realized in the next two years. It will include the revitalization of six large hydro power plants (HPP Vrutok, HPP Vrben, HPP Raven, HPP Tikvesh, HPP Shpilje and HPP Globochica),…
SEE Legal Member Firms Advised Sandberg Capital on Its Investment in Quantox Technology
December 2022
Three SEE Legal member firms provided legal support to Sandberg Capital, a Slovak private equity firm, in its successful investment of EUR 20 million in the Serbian IT company Quantox Technology. Sandberg focuses on investing in smaller and middle-sized companies with growth potential and Quantox is one of the largest software development companies in the Southeast Europe region.
The transaction is Sandberg Capital’s first direct investment in Serbia. The company aims to further strengthen the position of Quantox Technology in the region and accelerate its expansion abroad.
BDK…
Public Calls for Choosing Heat Energy Providers
September 2022
The Government of North Macedonia has published the public calls for choosing a provider for regulated production of heat energy, distribution of heat energy, and supply of heat energy. The Government intends to choose providers of the abovementioned energy activities (which are considered as public services) to meet the needs of consumers on the territory of Skopje in several municipalities, ahead of the upcoming heating season. All legal entities established in North Macedonia who meet the criteria from the tender documentation can participate on the public calls and send their…
Grid-Tied Solar Plant
April 2021
The project is an investment in a photovoltaic power plant with a capacity of 85 megawatts. The investment is expected to be EUR 63 million.
Solar Park Stipion
March 2022
The Solar Park Stipion will be built by the leading French company, Akuo Energy, on 452 hectares. with a capacity to generate 350 to 400 megawatts of electricity. The investment is expected to be EUR 270 million.
Project Hec Solar
March 2022
HEC Solar MK DOOEL Skopje will invest in the construction of a photovoltaic power plant with a capacity of 70 megawatts. The investment is valued at EUR 53 million.
Wind Power Plant Virovi
February 2022
The park will be built by the German company WPD and will have a capacity of 415 megawatts. Estimated value – EUR 500 million.
