Romania:. Schoenherr advises Electrocentrale Borzești on EUR 47m financing for wind energy project in Romania

Amongst Schoenherr's services was borrower-side advice in connection with this financing package, which includes a term loan, a VAT facility and a DSRF facility, covering the development, construction and operation phases of the wind farm over a 15-year tenor.

"We are proud to have supported Electrocentrale Borzești on this financing, which marks the company's first wind energy project from a portfolio of over 1 GW of renewable energy developments," said Partner Adina Damaschin, who led the Schoenherr team involved in this transaction.

"Securing a financing package of this scale and complexity required close collaboration between all parties involved and their advisors, and we would like to thank everyone involved in getting the deal done. We look forward to continuing to advance our broader renewable energy programme," said Mihaela Aliman, General Counsel and Board Member of Electrocentrale Borzești.

Electrocentrale Borzești is developing a diversified portfolio of over 1 GW of renewable energy projects, comprising approximately 950 MW of wind projects and 70 MW of solar and storage capacity, with an estimated total investment value exceeding EUR 1.3bln.

OMV Petrom is the largest integrated energy company in Southeastern Europe, active in the exploration and production of oil and gas, refining, and the marketing of petroleum products as well as energy generation, with a growing focus on renewable energy and low-carbon solutions.

Renovatio Group is a leading Romanian independent energy group with significant operations in renewable energy, energy trading and energy infrastructure development.

The Schoenherr team advising Electrocentrale Borzești in this matter was led by Adina Damaschin (Partner) and included Francesca Buta (Senior Attorney at Law) and Catrinel Ghinea (Attorney at Law).