Financing energy projects in Bosnia & Herzegovina

263 views

Published on

A presentation on financing energy projects in Bosnia & Herzegovina

Published in: Travel
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
263
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Financing energy projects in Bosnia & Herzegovina

  1. 1. karanovic/nikolic Financing of Energy Projects in Bosnia and Herzegovina – Collaterals September 2013 / Stevan Dimitrijević
  2. 2. karanovic/nikolic Regulatory framework in short ▬ Division of regulatory powers in energy sector between central government and entities: — Central: transmission grid, organization of market — Entities: all other sub-sectors ▬ Overregulated area energy, construction, water management, spatial planning, concessions and natural resources, foreign exchange regulations ▬ Undeveloped local legal framework and practice 2 Financing of Energy Projects in Bosnia and Herzegovina – Collaterals
  3. 3. karanovic/nikolic New Projects – Financing ▬ Need for new facilities ▬ Increased interest in investments in energy projects ▬ Financial support 3 Financing of Energy Projects in Bosnia and Herzegovina – Collaterals
  4. 4. karanovic/nikolic Collaterals – Local Standards ▬ Local banks’ practice/ local standards — mortgage — pledge on movable assets — promissory notes — joint and several warranty 4 Financing of Energy Projects in Bosnia and Herzegovina – Collaterals
  5. 5. karanovic/nikolic Collaterals – International Standards ▬ ―New‖ instruments / international standards — pledge on receivables — floating charge / generic movables (coal, etc) — pledge on accounts — trademark pledge — assignment of proceeds — direct agreements 5 Financing of Energy Projects in Bosnia and Herzegovina – Collaterals
  6. 6. karanovic/nikolic Obstacles Implementation of internationally recognized collaterals faces following obstacles: — Lack of practice — Overregulation — Lack of regulations 6 Financing of Energy Projects in Bosnia and Herzegovina – Collaterals
  7. 7. karanovic/nikolic Solutions ▬ Deal orientation ▬ Proper advisors for all parties ▬ Important role of public party advisors – Transactional – General – development of local legal framework, capacity building ▬ Improvement of local legal framework ▬ Court and arbitration practice 7 Financing of Energy Projects in Bosnia and Herzegovina – Collaterals
  8. 8. karanovic/nikolic Direct Agreements ▬ Importance ▬ Practice leads ▬ Improvement in regulatory field (Serbian Law on PPP and Concessions) ▬ Perspectives Stanari Project – first (and only) energy project in Bosnia with direct agreement as collateral 8 Financing of Energy Projects in Bosnia and Herzegovina – Collaterals
  9. 9. karanovic/nikolic Case study – Stanari Project ▬ TPP Stanari: — 420 MW installed capacity — Planed annual generation: 2 million MWh — Commencement of operations: 2016 ▬ Revitalization of coal mine Stanari ▬ Value of the Project: EUR 550 million — of which EUR 350 million from CDB loan 9 Financing of Energy Projects in Bosnia and Herzegovina – Collaterals
  10. 10. karanovic/nikolic Our Team 10 Miloš Vučković SENIOR PARTNER Stevan Dimitrijević PARTNER Petar Mitrović ASSOCIATE milos.vuckovic@karanovic- nikolic.com Resavska 23 11000 Belgrade Serbia T + 381 11 3094 200 F + 381 11 3094 223 stevan.dimitrijevic@karanovic- nikolic.com Gundulićeva 4 78000 Banja Luka Republic of Srpska Bosnia and Herzegovina T + 387 51 250 001 F + 387 51 250 005 petar.mitrovic@karanovic- nikolic.com Resavska 23 11000 Belgrade Serbia T + 381 11 3094 266 F + 381 11 3094 223 Financing of Energy Projects in Bosnia and Herzegovina – Collaterals
  11. 11. karanovic/nikolic Thank you

×