Karanović & Partners advised the International Finance Corporation and the City of Belgrade in the process of financing the landmark public-private partnership project for the “Belgrade Energy from Waste Project” for the landfill remediation and development of the waste treatment facilities in Belgrade, Vinča.
The public-private partnership agreement was signed in September 2017 by the City of Belgrade – Secretariat for Environmental Protection as public partner, the French–Japanese consortium, SUEZ Groupе – I-Environment Investments limited as preferred bidder and the company Beo Čista Energija d.o.o. Beograd as special purpose vehicle and private partner established to realise the PPP project.
Karanović & Partners legal team, led by Senior Partner Darko Jovanović and Senior Associate* Mina Srećković, continued to advise the City of Belgrade in the process of fulfilling the conditions precedent to the effectiveness of the public-private partnership agreement which marked also the simultaneous agreement of the financial package between Beo Čista Energija d.o.o. Beograd and financiers of the project – the European Bank for Reconstruction and Development, the International Finance Corporation and OeEB. Valued at approx. 350 million euros, this is one of the biggest public-private partnership projects being implemented in the region.
The IFC, a member of the World Bank Group, was one of the advisers to the City of Belgrade in the realization of this private-public partnership project, offering its expertise throughout the process. Hogan Lovells UK acted as the International Finance Corporation’s international legal adviser.
*independent Attorney at Law in cooperation with Karanović & Partners
