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.

Photovoltaic Power Plants in CM Jamularci and CM Skandalci

February 2022 The photovoltaic power plants in Jamularci and Skandalci will have a total capacity of 280 megawatts. The value of the investment is EUR 184 million.

Sale of Sport Life

December 2021 Sport Life is a privately owned betting company, officially founded in 2007. The Company HQ is located in Skopje, Macedonia. Sport Life along with a few other betting companies which were recently consolidated has over 300 retail units located throughout the country and is also operating in Serbia with 75 retail stores.

Macedonian Stock Exchange Adopts Corporate Governance Code

November 2021 Macedonian Stock Exchange adopted the new Corporate Governance Code for listed companies.  The Code applies to companies that, on 31 December in the current year, meet at least three of the following four conditions: ∙      the market capitalisation of at least 5,000,000 euros; ∙      at least 100 shareholders; ∙      at least 5% free float; ∙      the issuer’s shares were traded in at least 30% of the total number of trading days in the current year. These companies will have reporting requirements on their corporate governance practices…

Polenak Law Firm Assisted a Client in a Dispute Adjudication Board Procedure

October 2021 Polenak Law Firm's team led by Kristijan Polenak - Managing Partner, and Aleksandar Dimic - Partner, assisted a public sector client in a Dispute Adjudication Board procedure concerning matters arising from an agreement based on the International Federation of Consulting Engineers’ (FIDIC) Conditions of Contract for Construction. The resolution of the matter was satisfactory for the client while the underlying project is expected to be completed in good faith and to the benefit of all the parties involved.  

1.000 MW Photovoltaic Power Plants

October 2021 North Macedonia's state-owned electricity company ESM plans to build 1,000 MW of photovoltaic (PV) power capacity in the long term under a strategy to shift electricity generation to renewable sources. The photovoltaic power plants will be built either as direct investment by ESM or as part of a public-private partnership.

Polenak Law Firm Advised Singular And Its Owners

September 2021 As another proof of interest to invest in the IT sector in North Macedonia, Flutter Entertainment, a global sports betting, gaming, and entertainment provider, acquired 100% indirect ownership in Singular group of companies based in North Macedonia, Georgia, and Malta. Polenak Law Firm advised Singular and its owners on the transactional documents under Macedonian law. Also, our Regulatory & Compliance team advised the client in the complete harmonisation with the newest personal data protection requirements introduced with the new Data Protection Law which is now fully harmonised…

Public Call For Submission Of Applications For Establishment Of A Status Of An Investment Project

September 2021 The Public Call is announced in accordance with the Law on Strategic Investments in the Republic of North Macedonia, regulating the application criteria, conditions and procedure, determination of a status, selection, preparation and implementation of investment projects of the highest strategic priority for the country (Strategic Investment Projects), with the aim of encouraging, attracting and creating conditions for the implementation of strategic investments in the Republic of North Macedonia, an increase in the economic growth, employment and application of new technologies…