7 August 2023
Clifford Chance Badea advised Enel Green Power Romania in closing the acquisition of the largest photovoltaic park in its current portfolio, of 63 MW
Clifford Chance Badea advised Enel Green Power Romania with the implementation and closing of the acquisition of 63 MW photovoltaic park developed in Călugăreni, Giurgiu county, acquired from the Greek group Mytilineos.
Enel Green Power Romania, the business line of Enel group in Romania dedicated to the production of renewable energy, announced that it has commissioned the Lumina park, the largest photovoltaic park in its current portfolio. With an area of 88 hectares and a linear length of almost 2 km, the park has an installed capacity of 63 MW and will generate annually approximately 99 GWh.
The multi-jurisdictional team of Clifford Chance lawyers, coordinated by the Bucharest energy practice, led by partner Nadia Badea, advised Enel Green Power Romania from the first stage of the acquisition process, starting with the due diligence concerning corporate, real estate, permitting, regulatory matters, as well as on the transactional phase which involved Romanian and English law aspects, and the subsequent implementation and acquisition closing.
Loredana Ralea says: "We thank our Enel colleagues for the trust they have placed in us once again, involving us in the most important photovoltaic energy project they have implemented in Romania so far. As complex as this transaction was, our collaboration with the Enel team was fluid and seamless, which facilitated an efficient and transparent transactional process for all parties involved."
Nadia Badea adds: "The transition to renewable energy is a global strategic priority and Clifford Chance takes an active role in accelerating this process for the companies we advise. Enel Group, with whom we have a long-standing collaborative relationship, is an important investor in the field of renewable energy and we are honored to support them in several noteworthy projects, both locally and multi-jurisdictional, that will contribute to building a more sustainable future".
The latest deal adds to Clifford Chance Badea's impressive renewable energy portfolio. The practice advises on some of the most important acquisitions or development projects (M&A or financing deals) in Romania, being committed to support companies and investors in green energy.