Clifford Chance Badea advised Nofar Energy in the EUR 45.6 million sale of its stake and shareholder loans in Ratesti Solar to Econergy International

Clifford Chance Badea, the Bucharest office of global law firm Clifford Chance, advised Nofar Energy in relation to the sale of its 50% stake and shareholder loans in Ratesti Solar SRL to project partner Econergy International Limited, a deal that further strengthens the law firm’s partnership with one of the most dynamic renewable energy investors in Romania.

The EUR 45.6 million Euro deal is subject to regulatory approvals.

The Ratesti solar plant currently has a capacity to produce 155MW of electric power, and Econergy is planning to further invest and expand it with energy storage facilities.

Clifford Chance Badea and Nofar Energy have collaborated on several landmark renewable energy projects in Romania, as part of the investor’s plan aiming at a total installed capacity exceeding 650 MW, on matters including corporate M&A, Engineering, Procurement and Construction (EPC) and Operation and Management (O&M) contracts, finance as well as regulatory aspects.