Clifford Chance Badea, has advised the European Bank for Reconstruction and Development (EBRD) and OTP Bank in relation to the EUR 93-million financing agreement for the construction and operation of the Urleasca Wind Farm in Braila County, Romania.

Urleasca Wind Farm SRL, the project company, is ultimately equally co-owned by BIG Shopping Centers ltd and MEGA OR ltd, two Israeli companies that own and develop shopping malls and are listed on the Tel Aviv stock exchange.

The team coordinated by Daniel Badea, Clifford Chance Bucharest Managing Partner, and Jared Grubb, English law qualified finance Partner, included Counsel Andreea Șișman, Senior Associate Gabriel Toma, and lawyer Martha Busuiocescu. Counsel Cosmin Anghel advised on the hedging aspects of the transaction.

Nadia Badea, Clifford Chance Partner and Head of the Bucharest Energy Practice, says: "Global investors' enthusiasm regarding Romania's renewable energy market is once again highlighted in this deal, which marks the entry of a new high-profile investor and the launch of a representative project for Romania's green energy transition. As this process accelerates, we support clients and partners with our global knowhow and premium legal advice, confident that Romania can reach its true potential and become a regional player for a sustainable future."

Counsel Andreea Șișman added: "This project gave us the opportunity to once again work with two financial institutions with whom we have a long-term and strong relationship. This has proven essential for the successful closing of the deal and the exceptional work delivered by all teams involved on complex aspects."

Clifford Chance Badea has advised EBRD and OTP Bank throughout the entire transaction, providing support on aspects including finance structuring, drafting, reviewing, negotiating and support in the signing of related finance agreements, review of key project agreements and performing bankability review of the Project's documents.