Linklaters has advised China Development Bank on its EUR350 million project financing of a 300MW mine mouth coal fired power plant in Stanari, Republic of Srpska, Bosnia and Herzegovina. The first ever project financing led by a Chinese bank in Europe, this transaction is also one of the largest independent power projects in the region and the first large scale power project to be constructed by Chinese contractors in Europe.
The project involved amending three aspects of Bosnian legislation in order to overcome the legal constraints that were preventing a project financing structure.
The signing took place at a televised press conference last week in Banja Luka, the capital of the Republic of Srpska, which was attended by the President and Prime Minster of the Republic of Srpska as well as the Chinese ambassador to Bosnia and Herzegovina.
Projects partner Thomas Ng, who co-led Linklaters’ team, said:
“We are honoured to have been able to contribute our combined expertise in the energy sector and the Eastern European Region to help China Development Bank sign this landmark transaction. This transaction is significant not only because it is the first time a Chinese contractor has been contracted to build a major power plant in Europe, this transaction will likely serve as a precedent transaction for future power project investments in the Balkan region.”
The Linklaters team was led by Beijing partners Thomas Ng and James Douglass and comprised of Managing Associates Ka Lok Yip, Jimmy Chua and Kevin Crombie supported by Xylia Sim, Tracy Wang and Lucy Liu.
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