Gecić Law is proud to announce its role as local counsel in a strategic collaboration with Akin, the renowned and highly regarded international counsel, on Serbia’s largest renewable energy project. Together, we have advised on a landmark agreement that paves the way for the construction of one of the largest solar power plants in Southeast Europe. This project is set to significantly boost Serbia’s renewable energy capacity. It is the result of a collaboration between the Government of Serbia and an international consortium led by Hyundai Engineering and UGTR. The agreement marks a major milestone in Serbia’s commitment to meeting its climate and environmental objectives by increasing the use of renewable energy sources.
The deal involves the development of solar power plants across multiple locations in Serbia, with an installed capacity of 1,000 MW. Once operational, the facilities will play a critical role in the country’s energy mix, reducing reliance on traditional energy sources and contributing to Serbia’s green transition.
Gecić Law acted as local legal counsel, providing comprehensive support throughout the negotiation and execution phases of the agreement. The firm’s team of experts advised on various aspects of the transaction, including regulatory compliance, project structuring, and contract negotiations. Gecić Law’s deep knowledge of the energy sector and extensive experience in advising on large-scale infrastructure projects were crucial to the successful conclusion of the deal.
“We are thrilled to have been part of such a transformative project for Serbia’s energy sector,” said Ognjen Colić, Partner at Gecić Law and Head of Corporate and M&A. “This project highlights the importance of international investment to drive forward the country’s energy security and renewable energy objectives. It was indeed a true pleasure to collaborate with Akin, a firm with exceptional global expertise and a reputation for excellence. We were thrilled to collaborate with such an esteemed global firm.”
The project is expected to bring significant economic benefits, including job creation during the construction and operation phases, as well as long-term environmental advantages through reduced carbon emissions.
This deal confirms Gecić Law’s leadership in the region’s legal landscape, particularly in complex, cross-border projects. The firm continues to build on its reputation for excellence, offering cutting-edge legal solutions in sectors critical to Serbia’s economic future. The Gecić Law team on the project comprised partners Ognjen Colić and Miodrag Jevtić, counsel Miloš Petaković and senior associate Žarko Popović.
The project received widespread media attention:
Signed contract for the construction of solar power plants | Politika
Serbia signed another contract: Construction of self-balanced solar power plants soon | Telegraf)
