Clifford Chance Badea, the Bucharest office of global law firm Clifford Chance, is strengthening its partnership with Aukera Energy, by advising the developer on securing financing for the second phase of the battery energy storage system (BESS) project at Gura Ialomiței, Romania, through a EUR 48.5 million agreement with the International Finance Corporation (IFC).
The investment is the first stand-alone BESS system developed in Romania by Aukera Energy, the pan-European platform dedicated to battery energy storage and renewable energy. Upon completion, the project will be one of the largest BESS installations in Central and Eastern Europe, with a total capacity of 250 MW / 500 MWh.
This mandate extends the collaboration between Aukera Energy and the Energy practice of the Clifford Chance Bucharest office, which provides advice throughout the entire development cycle of a renewable energy project.
At the end of last year, the team advised Aukera Energy on securing a EUR 60 million credit facility from Kommunalkredit Austria AG to finance the first phase of its investment at Gura Ialomiței.
Partner Mădălina Postolache (Rachieru) said: “Congratulations to Aukera Energy on reaching this key milestone in completing the Gura Ialomiței investment. We are honoured to have contributed our global expertise to the advancement of this strategic project at a time when the battery energy storage sector is becoming vital for the competitiveness and sustainability of the energy industry in the region. We continue to work alongside the leading financiers and investors in the field on some of the major renewable energy projects that are driving the green transition in Central and Eastern Europe.”
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