Clifford Chance

Clifford Chance Badea advised Nofar Energy in the signing of an EPC and O&M contract for a 265 MW photovoltaic plant in Dambovita

A multijurisdictional team of Clifford Chance lawyers coordinated by the Bucharest office advised Nofar Energy, one of the most dynamic renewable energy investors in Romania, in the signing of an EPC turnkey and O&M contract for a 265 MW photovoltaic power plant in Corbii Mari, Dâmbovița County.

The Contractor and Operator is a consortium of companies that are part of Spain-based COX Energy and Romanian-based AJ Construction, part of AJ BRAND.

This is the fourth EPC and O&M project that Clifford Chance Badea advised on for Nofar Energy, thus consolidating a larger collaboration related to renewable energy projects in Romania with a total installed capacity of over 650 MW, on matters including corporate M&A, Engineering, Procurement and Construction (EPC) and Operation and Management (O&M) contracts, as well as regulatory aspects.

Last August, Clifford Chance Badea advised Nofar Energy 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.

Separately, a team coordinated by Partner Mădălina Rachieru-Postolache and Senior Associate Oana Ionașcu advised Nofar Energy, through its Romanian entities Solis Imperium and RTG Solar Energy, in the signing of a term loan facility agreement and a VAT facility agreement totaling EUR 122 million with the European Bank for Reconstruction and Development (EBRD) and Raiffeisen International, acting as lenders.