Bucharest—Global law firm Dentons has advised Kommunalkredit Austria AG on the €50,630,000 refinancing of the 60 MW Ruginoasa onshore wind farm, owned and operated by DRI, the EU renewables arm of DTEK, in Iași County, Romania.
The refinancing will help fund the project’s transition from construction-stage to operational-stage through an extended facility on improved economic terms, reflecting the strong risk profile of the operational asset, that has been generating electricity since December 2023.
The wind farm comprises ten Vestas wind turbines and is expected to generate renewable electricity for more than 30 years, contributing to Romania’s energy transition and long-term energy security.
Acting as lender legal counsel, Dentons’ Banking and Finance team in Bucharest managed and coordinated all English and Romanian law aspects of the transaction from structuring to completion.
Bucharest-based Banking and Finance partner Simona Marin led the legal team, assisted by counsel Stefi Ionescu, associate Maria Brinza and paralegal Iulia Alexandrescu (all Banking and Finance), partner Claudiu Munteanu-Jipescu, counsel Angelica Pintilie and associates Alin Dimache and Carolina Mitea (all Energy), as well as partner Bogdan Papandopol, counsel Luiza Onofrei and associate Diana Anghel (all Real Estate).
Simona Marin commented: “We are delighted to have supported Kommunalkredit on this important refinancing. The transaction reflects the growing maturity of Romania’s renewable energy market and the continued appetite of international lenders for high-quality operational assets. Ruginoasa is a significant wind project, and we are pleased to have contributed to securing its long-term financing alongside an excellent team of professionals.”
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