Clifford Chance advises Nofar Energy in the EUR 192 million financing agreement signed with the EBRD

Clifford Chance Badea, the Bucharest office of global law firm Clifford Chance, advised Nofar Energy, through its project companies Slobozia Solar Plant S.R.L., Aviv Renewable Investment S.R.L., and Corbii Mari Solar Plant S.R.L., in securing a EUR 192 million financing arranged by the European Bank for Reconstruction and Development (EBRD).

The financing will support the development of three photovoltaic parks in Romania, with a total installed capacity of 531 MW, and includes a Contracts for Difference (CfD) component, as well as the development of battery storage facilities.

Mădălina Rachieru-Postolache, Partner, says: “We were honoured to have once again advised Nofar Energy in this strategic project, following last year’s financing of two photovoltaic parks. Nofar Energy has already consolidated its foothold as a leading investor in renewable energy in Romania, while EBRD remains one of the most active international financial institutions focused on energy transition. We are delighted when we can contribute our extensive experience and global know-how for the success of our clients’ strategic projects.”

The latest financing strengthens the collaboration between Clifford Chance and Nofar Energy, as part of an investment plan through which the company aims to achieve a total installed capacity of over 733 MW in Romania. The lawyers advise the company on financing and corporate M&A aspects, Engineering, Procurement and Construction (EPC) and Operation and Management (O&M) contracts, as well as regulatory issues.