The Project Finance team within Clifford Chance Badea’s Energy and Renewable Energy practice advised the banking syndicate including UniCredit Bank, Banca Comercială Română (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.
The team of lawyers coordinated by Counsel Andreea Şișman and including Adelina Seserman (Associate), Alexandru Achim and Georgiana Cupaș (lawyers) has advised throughout the entire process, including on aspects regarding financial structuring, regulatory, due diligence, as well as drafting and negotiation of financing documents.
Counsel Andreea Şișman says: “At the end of a very intense year for our Project Finance team, we add a new representative financing for the renewable energy industry. We were happy to once again work with our colleagues from UniCredit Bank, Erste and BCR, with whom we have a long collaborative relationship, and also with the Enery team, with whom we have worked on several transactions that consolidated the company’s position on the Romanian market.”
Two years ago, a team coordinated by Andreea Şișman advised BCR and Erste Group Bank in connection with the financing agreement for the takeover of the Romanian renewable energy portfolio of the Canadian company Jade Power Trust by Enery Power Holding.
In the first part of this year, Clifford Chance Badea advised the Austrian group in connection with the acquisition and financing of the photovoltaic park in Sărmaşag commune, Sălaj county, with a projected capacity of 50 MW, from the independent electricity supplier Restart Energy One.
The recently agreed financing with the three banking institutions will support Enery Power Holding’s plans for the development and consolidation of its renewable energy projects in Romania.
The Clifford Chance Badea lawyers advise developers, infrastructure funds, utility companies and banks on sell side or buy side M&A, financing, signing of EPC and O&M contracts, PPAs (Power Purchase Agreements), development contracts, regulatory aspects including project modifications, advice on the newly launched CfD scheme or representation in major litigation cases.
This year’s portfolio has reached a record cumulative capacity of approximately 5 GW of renewable projects in various stages of development, as the law firm works with the largest and most active energy investors across all areas – from acquisitions to development projects, PPAs or financing.
