Clifford Chance Badea has advised Enel Green Power Romania in a transaction that involves the acquisition of two solar farms in South-Eastern Romania from Greek group Mytilineos - a 63MW ready to build solar farm and a 26MW solar farm under development, in line with Enel's business strategy to accelerate transition to renewable energy in Romania.
The first project will have an installed capacity of 63 MW and will be implemented in Călugareni, Giurgiu County. Construction works are scheduled to begin at the end of 2021. The second plant will be built in Moșteni, Teleorman County. Its capacity will be 26 MW and construction works are expected to start in the first part of 2022. For the two plants, the commercial operation is expected to start at the end of 2022 and at the beginning of 2023, respectively.
Mytilineos, through its Renewables and Storage Development (RSD) Business Unit, will undertake the further development and construction of the projects which are planned to achieve commercial operations by the end of 2022 / beginning 2023.
Enel Green Power manages more than 1,200 power plants on five continents and is present with assets in operation or under construction in 21 countries and development activities in a further 6 countries.
The Clifford Chance team advised Enel Green Power Romania on the full suite of the acquisition process, including on the due diligence over the corporate, real estate, permitting, regulatory matters, as well as on the transactional phase which involved Romanian and English law aspects. The team included Loredana Ralea (Counsel), Andrei Caloian and Lavinia Dinoci (Senior Associates) in Bucharest, and Alex Cook (Managing Partner) in Prague. The Enel in-house lawyers that worked for the project were Traian Gabriel Constantin, Adina Marcela Stoica and Dariana Sabrina Ilea.