January 2024 – Kinstellar advised Evelixon Trading Limited on the acquisition of a 100% share in the project company Grand Wind Park from Windvision Serbia Holding. The project, known as the WN NBT WIND 1 wind farm, is currently in the early stages of development. Located in the city of Pančevo, the farm is planned to have an installed power capacity of 120 MW.
Evelixon Trading Limited has a few projects in their portfolio in Serbia in the early stages of development or nearing "ready-to-build" status.
Kinstellar’s team provided comprehensive legal advice throughout the transaction – performing a legal due diligence, drafting the transaction documents - including the SPA, and assisting with the signing and closing processes. The transaction was closed during June 2023.
Additionally, we advised Evelixon Trading Limited on the sale of a 50% share in Grand Wind Park – the same project company involved in the initial transaction, to MK Green Energy Limited, a member of the MK Group.
On the other hand, the project company's acquired subsidiary DVD Windpower is actively developing the wind farm Vetropark 1 in its’ early stages. This project, located in the City of Pančevo, has a planned installed power capacity of 150 MW and is adjacent to the 120 MW Wind Farm. The transaction structure envisages a merger of Grand Wind Park and DVD Windpower into one company that will eventually develop the wind farm with a planned installed capacity of 270 MW - combining the 120 MW and 150 MW Wind Farms.
Over the course of the second project, the team worked on the transaction documents - including the SPA and SA, and assisted with signing and closing processes. The transaction was signed in April 2023 and the closing took place in January 2024.
In both transactions, the Kinstellar team was led by Partners Radovan Grbović and Milan Samardžić and Senior Associate Aleksa Bošnjović. In addition, Associates Jelisaveta Folić provided valuable assistance in M&A matters and Vuk Vučković handled the real estate issues.