Clifford Chance Badea advised Nofar Energy in relation to the sale of its 50% stake and shareholder loans in Rătești Solar SRL to project partner Econergy International Limited, a deal that further strengthens the law firm’s partnership with one of the most dynamic renewable energy investors in Romania.

The EUR 45.6 million Euro deal is subject to regulatory approvals. 

The Rătești solar plant currently has a capacity to produce 155MW of electric power, and Econergy is planning to further invest and expand it with energy storage facilities. 

The Clifford Chance legal team including Partners Nadia Badea and Loredana Ralea, Counsels Radu Costin and Eleonora Udroiu, Senior Associate Diana Borcean and Associate Roxana Bărboi advised Nofar Energy throughout the entire sale process, starting with the drafting of the transaction documentation, negotiation and signing, as well as providing guidance in respect with the relevant regulatory aspects. 

The Nofar Energy in-house team was coordinated by Favi Stelian (CEO Nofar Energy Romania), Ayana Wechsler (VP Global Operations) and Alex Greenberg (Senior Legal Counsel).

Partner Nadia Badea said: “Nofar Energy is a leading investor in Renewable energy, with whom we have developed a strong partnership in recent years. We value our relationship and will continue to support their strategically important projects, through our global expertise mixed with in-depth, local knowhow.” 

Partner Loredana Ralea added: “We are thrilled that our continued successful relationship with Nofar Energy is further demonstrated through this latest transaction. We extend our congratulations to both Nofar and Econergy for bringing this deal to a successful signing.”