Nyerges & Partners has advised on the CfD (Contracts for Difference) application for the first Romanian CfD auction for 10 projects, both wind and solar photovoltaic, both entire and partial capacities. 

The legal team has advised its clients on a whole range of CfD related matters including the functioning of the scheme, the terms of the CfD contract, the auction rules, solving "company in distress" matters, comfort letters, bid bonds and preparing the CfD applications. 

The team was led by Mihaela Nyerges (Managing Partner) and included Carolina Baloleanu (Counsel), Larisa Nicolae (Senior Associate) and Radu Dăncău (Junior Associate). 

"With low liquidity of the PPA market and many projects nearing the financing stage, the CfD auction presented an attractive opportunity for investors. However, participating in the scheme required a deep understanding of its mechanics, as well as the challenges and implications of the CfD contract—key factors for conducting a realistic assessment and structuring competitive bids. Also, given the novelty of the tender process, there have been multiple challenges and uncertainties that demanded careful navigation. We are deeply grateful to our clients for their trust in our expertise and wish them success in the evaluation process and the implementation of their projects. I am immensely proud of our team’s hard work and dedication, especially in meeting the tight deadlines imposed by this process. The knowledge and experience gained through this journey will further enhance our ability to deliver exceptional support to our clients in the second auction, scheduled for early next year." declared Mihaela Nyerges, Managing Partner.