Taaleri is preparing to divest its stake in the operational 158 MW Cibuk onshore wind farm in Serbia.

The group via its Taaleri SolarWind I Fund owns a 40% stake in the project jointly with fund co-investors Finnfund and German development finance institution DEG, while UAE-based Masdar holds a 60% stake.

Taaleri is understood to have mandated EY as its financial advisor to dispose of the 40% holding, with transaction launch anticipated in Q2.

It is not yet known whether Masdar has a right of first offer to purchase the 40% stake, or if Taaleri can go out to the broader market immediately.

Masdar and Taaleri initially raised EUR 215m from the IFC and EBRD for the EUR 300m project at financial close in October 2017, while commissioning of the 57-turbine scheme followed in 2019.

Located around 50km north-east of Belgrade, Cibuk 1 receives an inflation-linked feed-in tariff for the first 12 years of operation.

Masdar and Taaleri refinanced the project with a EUR 205m debt package from UniCredit, Credit Suisse, Eurobank and OTP Bank in September 2022

*This story was originally published exclusively for NPM Europe subscribers.

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