Clifford Chance

Clifford Chance Badea advised BCR in the financing of a 34.69 MW solar plant development by an Alerion Clean Power-owned company

A team of Project Finance lawyers from Clifford Chance Badea’s Energy Practice advised Banca Comercială Română (BCR) in the signing of an EUR 18.5 million financing agreement for the development of a 34.69 MW solar park in Călărași County by a company owned by Italian group Alerion Clean Power.

Partner Andreea Șișman said: „The dynamism of the Romanian renewable energy market, driven by major investments, is mirrored by a growing number of complex Project Finance projects that we advise on, often through multidisciplinary teams including colleagues from other Clifford Chance offices. Our long-standing collaboration with BCR is another example of a successful cooperation and we are pleased to add a new representative financing to our joint portfolio that contributes to Romania’s energy transition.”

The project adds to a significant track record of renewable energy deals successfully advised by Clifford Chance Badea's Energy Practice and strengthens the relationship with BCR, one of the most representative and active financiers in Romania.

The most recent projects that BCR and Clifford Chance Badea have worked on together are:

1. Advising Erste Group Bank and BCR in the financing of the successfully completed EUR 214 million transaction, through which Nala Renewables took over a 99.2 MW onshore wind project from OX2. The deal includes a long-term power purchase agreement with a multinational corporate offtaker (August 2024);
2. Advising the banking syndicate including UniCredit Bank, BCR and Erste Group Bank in the signing of the EUR 214.45 million financing agreement with Austrian group Enery Power Holding for its entire Romanian portfolio of renewable energy projects and batteries (December 2024);
3. Advising BCR and Erste Group Bank in connection with the financing of the acquisition by Austrian group Enery Power Holding of the renewable energy portfolio held by the Canadian company Jade Power Trust (February 2023).