International law firm Clifford Chance advised Taaleri Energia, a Nordic renewables fund manager and developer, and Encro, the largest renewable energy developer in Croatia, on the EUR 126 million senior debt financing package for the construction of the Zadar wind farm in Croatia. The Taaleri SolarWind II fund acquired the wind farm, which will have a capacity of 111 MW, together with Encro, the farm’s original developer. The Zadar wind farm is located in the county of Zadar, around 300 km south-west of the capital city Zagreb.
The wind farm is planning to enter into a long-term power purchase agreement for a substantial proportion of the electricity generated. Project financing for this investment has been provided by a consortium of lenders including Zagrebačka Banka (owned by UniCredit), the Croatian Bank for Reconstruction and Development (HBOR), and the European Bank for Reconstruction and Development (EBRD).
The Clifford Chance team working on the financing included Andrzej Stosio (Partner), Kacper Bardan (Counsel) and Artur Gładysz (Associate). Paweł Puacz (Partner) and Dominik Kępiński (Counsel) advised in terms of the PPA. Ivana Dominković Cecelja, Matija Osrečak and Emanuel Matešić from Dominković & Osrečak Law Firm advised on Croatian law aspects of the transaction.
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