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26 January 2023
press release

Romania: Schoenherr advises Nofar Energy on acquisition of 73 MW solar PV project

Schoenherr Romania advised Nofar Energy on the acquisition of a 73 MW solar photovoltaic (PV) project in Slobozia, Giurgiu county.

The transaction is part of the company's announced plans to acquire, develop and install solar PV power plants and wind farms with a total capacity of 1.5 GW in 2023.

"After its market entry in 2021, Nofar Energy has quickly become a major investor in the Romanian renewable energy sector," said local partner Monica Cojocaru, who led the Schoenherr team advising Nofar Energy. "We are happy to be a part of Nofar's success story in our country. Fuelled by the green transition, investors' interest in the local renewables market has significantly picked up again. In the past two years, we have advised on over 20 M&A transactions in this sector. Most of these deals involve solar PV and wind power plants, both operational or under development."

Nofar Energy is a company specialised in developing, operating and storing energy produced from PV power plants and wind parks, listed on the Tel Aviv Stock Exchange (TASE), with operations in Spain, Italy, Israel, Poland, the UK and the USA.

Schoenherr's services covered the full range of buy-side legal advice in connection with this M&A transaction, including energy-related matters. The team was led by Monica Cojocaru (local partner) and included Vlad Cordea (senior attorney at law) and Alexandra Huza (senior attorney at law), with FDI screening proceedings being handled by Georgiana Bădescu (partner) and Darius Trușculete (attorney at law).

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