Clifford Chance

Clifford Chance Badea is advising EBRD and OTP Bank in the EUR 93-million financing of a 102 MW wind farm in Romania

Clifford Chance Badea, the Bucharest office of global law firm Clifford Chance, has advised the European Bank for Reconstruction and Development (EBRD) and OTP Bank in relation to the EUR 93-million financing agreement for the construction and operation of the Urleasca Wind Farm in Braila County, Romania.

Urleasca Wind Farm SRL, the project company, is ultimately equally co-owned by BIG Shopping Centers ltd and MEGA OR ltd, two Israeli companies that own and develop shopping malls and are listed on the Tel Aviv stock exchange.

The team coordinated by Daniel Badea, Clifford Chance Bucharest Managing Partner, and Jared Grubb, English law qualified finance Partner, included Counsel Andreea Sisman, Senior Associate Gabriel Toma, and lawyer Martha Busuiocescu. Counsel Cosmin Anghel advised on the hedging aspects of the transaction.

Clifford Chance Badea has advised EBRD and OTP Bank throughout the entire transaction, providing support on aspects including finance structuring, drafting, reviewing, negotiating and support in the signing of related finance agreements, review of key project agreements and performing bankability review of the Project's documents.