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Schoenherr Romania advised ENGIE Romania ("ENGIE") on the acquisition of a fully operational photovoltaic ("PV") project with an installed capacity of 5.46 megawatt (MW), located in Teleorman county, Romania from two German investors.
Through this transaction ENGIE strengthens its position in the Romanian renewable energy market where the company plans to further develop its portfolio of renewable energy capacities, both through organic growth and acquisitions. Schoenherr advised on the full range of buy-side legal matters in connection with this M&A deal.
"We are honoured to have successfully advised ENGIE on this transaction. We expect to see more moves from strategic investors in the Romanian renewable energy sector as the market is ready to tap into the country's potential in this industry." said Schoenherr Romania partner Monica Cojocaru who led the team advising on this project.
ENGIE currently operates a total of 115 MW of wind and photovoltaic renewable energy capacities. Prior to this acquisition ENGIE was present on the local renewables market operating two wind farms and two photovoltaic parks with a combined installed capacity of approx. 110 MW located in the Braila, Galati and Harghita counties.
The Schoenherr team who advised on this project was led by Monica Cojocaru (local partner), and also included Simona Lehniuc (senior attorney at law); Simona Chirică (local partner); and Mădălina Mitan (managing attorney at law).
Schoenherr Romania actively advises in the renewable energy sector. It recently launched renew romania, a publication aimed at providing investors and developers with a full overview of what business in this sector in Romania entails, and is aimed at facilitating the exchange of ideas between the market, policymakers and financiers.
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