Clifford Chance

Clifford Chance Badea advised Nofar Energy in the acquisition of the project company developing a 160 MW photovoltaic plant in Giurgiu County

Clifford Chance Badea advised Nofar Energy, one of the most dynamic renewable energy investors in Romania, in the signing of the acquisition agreement for 100% shares in Aviv Renewable Investment, the project company developing a 160 MW photovoltaic park in Giurgiu County.

The project is adjacent to another solar plant that Nofar Energy has previously bought from the same seller, which Nofar officials named at that time as "probably being the largest investment in renewable energy near Bucharest and in Romania."

The latest transaction adds to a larger collaboration between Clifford Chance and Nofar Energy, related to renewable energy projects in Romania with a total installed capacity of 643 MW, on matters including corporate M&A, Engineering, Procurement and Construction (EPC) and Operation and Management (O&M) contracts, financing agreements, as well as regulatory aspects.

The complex deal was advised by highly experienced Clifford Chance lawyers from the M&A Energy Practice coordinated by Partner Nadia Badea, including Loredana Ralea (Counsel), Radu Costin (Senior Associate), Lavinia Dinoci (Senior Associate), Carmen Buzenche (Senior Associate), Diana Borcean (Senior Associate), and Roxana Bărboi (Associate).

Clifford Chance Badea clients benefit from the entire experience and know-how of the Clifford Chance offices in countries that are more advanced in the development of renewable energy projects. The local team advises developers, infrastructure funds, utility companies and banks throughout the entire project development cycle of a renewable energy project – sell side or buy side M&A, signing of EPC and O&M contracts, Power Purchase Agreements (PPAs), Project Finance, development contracts, regulatory matters including project amendments, or litigation.