Vlăsceanu, Nyerges & Partners advised Econergy International Ltd. in closing the acquisition from Portland Group of the biggest photovoltaic park under development in Romania. The project has an authorized capacity of 153 MW and covers over 165 ha of land.
“We are honored to be once more Econergy’s legal advisor for their investments in Romania. The complexity of this transaction derives primarily from the necessity to align the multiple commercial interests of the involved parties to the highly regulated Romanian environment. The project will support Romania in reaching its 30.7% E-RES target by 2030 (to be increased) and will encourage foreign investments in Romanian PV sector”, said Daniel Vlăsceanu, Vlăsceanu, Nyerges & Partners’ Managing Partner.
The legal team was led by Daniel Vlăsceanu (Managing Partner) and included Raluca Spinu (Managing Associate), Mihaela Farin (Senior Associate) and Adina Popescu (Associate).
Econergy is an international IPP (independent power producer) of utility-scale renewable energy projects. It develops, owns and operates utility-scale renewable energy projects driven by deep industry, regulatory and technology expertise at every critical stage from origination to supply. Econergy will provide the management services, including EPC and O&M negotiations, construction management and PPA and project finance management. Once operational, Econergy will provide a long-term Asset Management service.