Baker McKenzie Switzerland advised Commerzbank Aktiengesellschaft, Zurich branch on guarantee facility agreements for Calik Enerji Swiss AG, totaling USD 586.25 million, including a guarantee agreement covered by Swiss Export Risk Insurance (SERV). Guaranteed by Calik Enerji San. ve Tic. A.S., the facilities were provided in connection with Calik Enerji's EPC contract relating to the turnkey construction of the 1574-megawatt Kiyanly combined-cycle power plant project in Turkmenistan. Baker McKenzie acted as the sole legal counsel to Commerzbank on all Swiss law aspects of the transaction.
Calik Enerji Swiss, based in Lucerne, Switzerland, is a subsidiary of Calik Enerji, and executes energy and infrastructure projects worldwide using the Swiss supply chain. Calik Enerji, based in Istanbul, Türkiye, is a leading diversified energy company operating in the EPC, power distribution and renewable energy sectors in Türkiye, Central Asia, the Middle East, Africa and Eastern Europe.
The Baker McKenzie team was led by partner Markus Wolf (Banking & Finance, Switzerland) and included associates Charlotte Rüegg (Banking & Finance, Switzerland) and Jan Lusti (Banking & Finance, Switzerland).
