Serbia: Schoenherr advises OTP Group on project finance facilities for development of six biogas power plants in Serbia
Moravčević Vojnović and partners in cooperation with Schoenherr advised OTP Group members, OTP Bank Plc Hungary and OTP Bank Serbia, in a biogas project finance transaction. The financing will be used by three special-purpose vehicles (SPVs) that acted as borrowers to develop six biogas power plants in Serbia. The project's sponsor, Pannonia Bio, is among the largest biorefinery operators in Europe.
Biogas power plants utilise a wide variety of feedstock, such as agricultural residues and biogenic waste, to produce biogas. This biogas is then efficiently converted into heat and electricity, enabling the plants to contribute to waste reduction and generate clean, renewable energy.
OTP Group is one of the fastest growing and one of the leading banking groups in the Central and Eastern European region, with more than 41,000 employees in now 12 countries of the CEE and Central Asian region, the Group provides universal financial services to more than 17.5 million customers. OTP Bank Plc. has been listed on the Budapest Stock Exchange since 1995.
The multi-practice Schoenherr team was led by Jelena Arsić (partner) and Marko Kostić (associate) and included the local energy team Miloš Laković (partner) and Aleksandra Petrović (attorney at law).