CMS advises a syndicate of banks on the refinancing onshore wind farm in Serbia

Published on 3 November 2022

CMS has advised a consortium of banks consisting of UniCredit, Credit Suisse, Eurobank and OTP Bank on the €205 million refinancing of Čibuk, a 158 MW onshore wind farm located in Serbia. 

The Čibuk wind farm is owned by the Taaleri SolarWind I Fund and its co-investors, Finnfund, Masdar and DEG, the German development finance institution. With 57 turbines, it is the largest wind farm in Serbia and produces enough electricity to supply around 87 thousand households. It offsets the equivalent of around 380,000 tonnes of carbon dioxide during each year of operation.

CMS acted as legal advisors to the lenders in respect of the loan financing package.

The English law CMS team was led by Rafal Zakrzewski and Przemysław Karolak, with support from Marcin Krzemien, Michał Horelik and Jakub Smiałek (Banking & Finance).  The Serbian law CMS team was led by Milica Popovic, with support from Ksenija Boreta, Jovana Bingulac (Banking & Finance), Ivan Gazdic and Marija Marosan (Real Estate & Energy).