Renewables & Power Experience

Triangle General Contractors of Brooklyn, NY, utilized a $5.5 million loan from the Overseas Private Investment Corporation (“OPIC”) to reconstruct the 8.3-megawatt Kozhner hydropower facility in the western Decan region of Kosovo. Delphos was the sole financial advisor to the sponsor on this transaction. Triangle won an international bid to reconstruct the Kozhner facility, as well as transmission lines linked to interconnection facilities near the project site. The plant is operated under a PPA with the utility provider in Kosovo, Korporata Energjetike e Kosoves. The Kozhner power plant, located two hours outside of Pristina, began operations in 1957. The plant continued in operation until 1999 when it was partially destroyed in the civil war. The project was later successfully sold to a new investor and the OPIC debt was repaid.