Clifford Chance Badea advises Enel Green Power Romania on the agreement for the acquisition of a 90MW solar portfolio in Romania

A multidisciplinary team advised Enel Green Power Romania on the acquisition of two solar farms in southern Romania – a 63MW ready to build solar farm and a 26MW solar farm under development, supporting Enel’s business strategy to accelerate transition to renewable energy in Romania. The seller, Greek group Mytilineos, through its Renewables and Storage Development (RSD) Business Unit, will undertake the further development and construction of the projects which are planned to achieve commercial operations by the end of 2022 / beginning 2023.

Clifford Chance advised on the full suite of the acquisition process, including on the due diligence over the corporate, real estate, permitting, regulatory matters, as well as on the transactional phase which involved Romanian and English law aspects. The execution team included Loredana Ralea, Andrei Caloian and Lavinia Dinoci in Bucharest, and Alex Cook in Prague. Over the time, Clifford Chance has advised Enel group on multiple projects worldwide.

The transaction builds on Clifford Chance Badea’s market-leading sector expertise in renewable energy. The team in Bucharest has advised and continues to act on several acquisitions or development projects (both M&A and financings) involving mid and large-size renewable projects in Romania, committed to work side-by-side with investors and companies on transactions that will lead to a more sustainable future.