Fund enters Serbian waste SPV

A European fund has acquired a stake in the special purpose vehicle (SPV) to deliver a €350m energy-from-waste PPP in Serbia.

Marguerite has bought a 20% stake in Beo Čista Energija, the SPV to deliver the Vinča energy-from-waste PPP comprising Suez and Itochu.

William Pierson, partner at Marguerite, said: “The project is Marguerite’s first investment in an EU accession country and we are very pleased to become a shareholder in this landmark transaction that will address an acute environmental problem in the vicinity of the City of Belgrade.”

The consortium will design, build, finance and operate a greenfield energy-from-waste facility and deliver a new landfill for residual waste in Vinča, near Belgrade.

Construction for the project, to be financed through debt and equity, is expected to start next year.