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Kinstellar advises Chinese investors on Serbian wind farm venture
Kinstellar has successfully advised Chinese investors CMC Capital, a member of China National Technical Import and Export Corporation group (“CNTIC”), and Shanghai Electric Power & Energy Development Limited (“SEP”) on the acquisition of 100% of the shares in Crni Vrh Power d.o.o., a project company developing a 150 MW onshore wind farm in the eastern Serbian municipalities of Bor, Žagubica, and Majdanpek. The Crni Vrh wind farm was purchased "ready-to-build"—which means that all essential permits and land rights were secured prior to the start of the construction phase, which includes 28 wind turbines. With this acquisition, CNTIC and SEP have entered Serbia’s renewable energy sources (RES)
Slovakia: Subsidies for the construction of Renewable Energy Sources
Are you considering building your own Renewable Energy Source ("RES") in order to reduce your electricity costs, comply with internal ESG policies, or for any other reason? If so, you may find this overview of currently available subsidies to entrepreneurs in Slovakia for the construction of RES helpful. Currently, there are two opened calls for the submission of applications for state aid in the total amount of EUR 94,554,298. We provide an overview of key information on such aid below. Overview Call Call for the submission of applications for funds from the Recovery and Resilience Facility to support the construction of new facilities for the production of electricity
Kinstellar advises PowerChina on the acquisition of a 300 MW wind farm in Serbia
Kinstellar has successfully advised PowerChina on the acquisition of a majority shareholding interest (51%) in Vetrozelena, a project company developing a 300 MW wind farm in Serbia under a RtB (ready to build) model. The Vetrozelena project is a 48-turbine wind farm located in Pančevo, in the autonomous province of Vojvodina in the northern part Serbia. The deal, which was signed in April 2023 and closed in November 2023, is currently the largest acquisition in the Serbian renewables sector. With this transaction, PowerChina further broadens its worldwide reach by entering the Serbian renewable energy sector. The seller was CWP Europe, a joint venture between the renewable energy investor CWP Global and the
Renewable Energy – Simplified legislation in favour of national interest projects and state entities in Romania
On Friday 27 October 2023, GEO 91/2023, regarding certain measures related to the exercise of the state's public and private property rights, as well as the efficient administration of state properties and the amendment of some normative acts (“GEO 91/2023”), entered into force. Among others, by means of GEO 91/2023, long-criticised measures that substantially favour state entities and national interest projects have been enacted. The main amendments brought by GEO 91/2023 with potential high impact on the renewable energy sector: It is now easier for state entities to develop projects located outside a buildable area for surfaces exceeding 50 ha and for national interest objectives specific
Energy sector expert Balázs Tomaj joins Kinstellar’s Budapest office
Kinstellar is delighted to announce that Balázs Tomaj, a seasoned legal practitioner in Hungary’s energy sector, has joined the firm’s Budapest office as a Senior Counsel. With a longstanding and notable career in the energy sector, Balázs brings a wealth of experience and knowledge, further enhancing the firm’s capabilities to serve its clients in this ever-evolving sector. With over 15 years at the largest Hungarian energy companies and law firms, Balázs has established himself as a trusted legal expert in the field. His deep understanding of energy regulations and industry trends is an invaluable asset for our firm and our clients. He will play a leading role in strengthening our capabilities in the energy
EU publishes new regulation on alternative fuel infrastructure
At the end of September, the long-awaited Regulation (EU) 2023/1804) on the deployment of alternative fuel infrastructure, and repealing Directive 2014/94/EU (“AFIR”) was published in the Official Journal of the European Union. Though the entry into force of AFIR is 13 April 2024, it is worth reviewing the key takeaways that the AFIR introduces as part of the EU’s Fit for 55 package. The AFIR sets binding national targets for the development of adequate EU alternative fuel infrastructure. The new regulation also establishes common technical specifications and requirements regarding the information to vehicle users for the provision of data and payment requirements. The AFIR includes detailed regulations regarding
Kinstellar strengthens its team in Turkey with the appointment of Ömer Erdoğan as Partner
Kinstellar is delighted to announce that Ömer Erdoğan has joined the firm’s Istanbul office as Partner. His joining reinforces our team’s capabilities in Turkey—particularly our expertise in the real estate, infrastructure and energy sectors as well as project finance. Ömer has 18 years of experience advising multinational and local companies on their investments in Turkey and abroad. His banking and finance expertise covers a wide range of transactions in Turkey. He has led teams acting for both lenders and sponsors on trade finance, project and acquisition financings, banking regulatory, security documentation, and secured loans and syndications. Ömer’s broad experience also covers the energy
Compensations for energy prices in Slovakia
On 21 February 2023, the Ministry of Economy of the Slovak Republic (“the Ministry”) published a call for the submission of applications for a subsidy to cover additional costs due to the increase in gas and electricity prices (“the Call”). The aim of the Call is to compensate qualifying companies and natural persons (entrepreneurs) for excessive energy prices from January to March 2023. In this article, we present an overview of the key information. Basis The Call was published in accordance with the state aid scheme approved by the European Commission under No. SA. 104846 under the State aid Temporary Crisis Framework (“the Scheme”). The Ministry has allocated a total amount of EUR 279,820,623
Kinstellar advises Silk Road Fund on the acquisition of a 49% stake in the Sirdarya CCGT power plant in Uzbekistan
Kinstellar is delighted to announce that it has successfully advised Silk Road Fund, a development and investment fund established under the framework of the Belt and Road Initiative, on the acquisition of a 49% stake in the 1.5 GW Sirdarya combined cycle gas turbine (CCGT) facility in Uzbekistan. ACWA Power will retain a 51% stake in the facility. JSC “National Electric Grid of Uzbekistan” will be the sole off-taker under the project for a period of 25 years. Located in Shirin, southern Uzbekistan, the project will support the Republic of Uzbekistan in providing cost-effective and energy efficient power solutions for the nearby communities and eliminate 2 million tonnes of carbon emissions per year. Once
Compensations for energy prices in Slovakia
On 1 December 2022, the Ministry of Economy of the Slovak Republic (“the Ministry”) published a call for the submission of applications for the provision of a subsidy to cover additional costs due to the increase in gas and electricity prices (“the Call”). The aim of the Call is to compensate qualifying companies and natural persons (entrepreneurs) for excessive energy prices in August and September 2022. In this article, we present an overview of the related key information. 1 Basis The Call was published in accordance with the state aid scheme approved by the European Commission under No. SA. 104846 under the State aid Temporary Crisis Framework (“the Scheme”). The Ministry
Žurić i Partneri (ŽiP) Kinstellar assists the European Commission Directorate General for Energy (DG ENER) in the transposition process of Directive 2018/2001
ŽiP Kinstellar — together with Grimaldi Studio Legale as the lead law firm and the Grimaldi Alliance network of highly skilled national experts from law firms Collegium Bitai & Partners, Dimitrov, Petrov & Co., Drakopoulos, Kirm Perpar, Wardynski & Partners and Vojčík & Partners, s.r.o. — is assisting the European Commission Directorate General for Energy (DG ENER) in reviewing the transposition status and conformity of the RED II Directive into Member States’ legal systems. In particular, ŽiP Kinstellar is verifying the transposition and conformity of the RED II Directive into Croatia’s legal framework. RED II is part of the EU's ambitious 2030 climate plan, which includes renewable
Kinstellar and Gen Temizer Özer advise Torunlar Group on the acquisition of a 50% stake in AKCEZ—a joint venture between ČEZ Group and Akkök Group in Turkey
Kinstellar and Gen Temizer Özer are delighted to have supported Başkent Doğalgaz Dağıtım Gayrimenkul Yatırım Ortaklığı A.Ş., the second-largest gas distributor in Turkey and publicly listed on the Istanbul stock exchange, and Torunlar Enerji Sanayi ve Ticaret A.Ş., a Turkish investment holding company and the majority owner of Başkentgaz, on the acquisition of a 50% stake in AKCEZ Enerji A.Ş. (AKCEZ) from ČEZ Group, which following final closure of the deal will exit its existing joint venture with Akkök Group. The transaction is subject to, inter alia, approval by the Turkish antitrust authority and local energy regulator. AKCEZ—a joint venture of ČEZ Group and the Akkök Group—owns the