Energy and Natural Resources
Most representative projects
Advising E.ON Energie Romania on the implementation of the NEXT-E project which aims to develop a pan-European network of stations that will cross six countries, our work including assistance on urban planning, European grants and Connecting Europe Facility (CEF) programs, public acquisition procedures, interaction with public authorities in Romania and other regulatory requirements for the setting up of a network of electric vehicles chargers, securing of real estate rights, obtaining relevant approvals and permits, as well as concluding public tender procedures.
Advising Industrial Instalservice in relation to a negotiation for termination of the energy supply agreement entered into between our client and Hidroelectrica (one of the major energy generation companies in Romania), as well as the subsequent dispute arising from the termination of this agreement.
Assisted E.ON in relation to an extensive analysis on the application of Directive No. 2019/944 & Regulation No. 2019/943, as well as ANRE’s subsequent legislation and their implementation.
Advising Delgaz Grid in relation to the negotiation of various amendments to several gas concession agreements with the Ministry of Energy, as well as in relation to the participation to public procurement procedures for new gas concession agreements.
Specialist lawyer: Stefan Botezatu.
BIRIS GORAN SPARL (see profile ...)
Legal adviser to Danske Commodities, a leading European energy trading house, member of Equinor, for all regulatory matters regarding electricity and natural gas cross-border and local trading.
Legal advisor to Monsson Energy Trading, European gas and energy trader, on energy contract and regulatory matters, as well as all aspects pertaining to obtaining sector specific licenses (such as an energy trading license).
Assisting Romanian Small Hydropower Association, representing electricity producers through small hydropower plants, in advocacy activities for changing the Romanian legislation of renewable support scheme.
Legal advisor to P3 Logistic Parks Romania Management, a major European developer and manager of logistic parks, concerning their contracts for utilities acquisition and for connecting their logistic storage capacities to the electricity and gas networks.
Assisting Liebrecht & wooD, a leading CEE real estate developer, with their contracts for utilities acquisition and for connecting their residential buildings to the electricity and gas networks.
Specialist lawyer: Dana Dunel Stancu.
BOGARU, BRAUN NOVIELLO & ASOCIATII (see profile ...)
Assisting an Italian company in relation to development of Romanian biomass energy facilities. This required an understanding of the relevant technology. In addition a number of issues were raised due to the project regarding its implementation.
Advising central European investor in relation to Romanian photovoltaic project. This required an initial capital restructuring together with review of investment documentation and law in relation to photovoltaic construction and implementation in Romania.
Advising an electricity producer concerning contractual obligations with the Romanian Electricity Regulator and Romanian electricity distributor.
Advising a wind farm developer on documentation and regulations in Romania.
BOHALTEANU SI ASOCIATII (see profile ...)
Assisted DWS, the international infra-fund of Deutsche Bank, in connection to the attempted acquisition of the participations within the local subsidiaries of Enel, a multinational distributor of electricity and gas and a leading operator in the power and gas markets of Europe and Latin America, including a red flag analysis with respect to the entire activity of the target companies.
Advising Premier Energy, an important energy distributor from Romania, in connection to the acquisition of B.E.R.G. Sistem Gaz, a natural gas supplier and distributor acting in Maramures county. Legal assistance included representation of the client in relation to the officer receiver and the creditors of the target, drafting and assisting the client in the negotiations for the acquisition of the receivables towards the target and the participations held by the shareholders of B.E.R.G. Sistem Gaz as well as on various post-transaction matters.
Advising Dacian Petroleum, a company acting in the petroleum services field, with respect to various corporate matters in the context of a transfer of undertaking from OMV Petrom, comprising also 40 oil and gas onshore deposits from Romania. Legal assistance included the set-up of more than 40 working points for petrol extraction and processing etc.
Advising BERG Sistem GAZ, a natural gas supplier and distributor acting in Maramures county, in connection to a wide range of matters from corporate amendments, amendments of the restructuration plan to the assistance in the insolvency file, potential acquisition of client portfolio from another gas distributor etc.
Specialist lawyer: Ionut Bohalteanu.
BONDOC SI ASOCIATII SCA (see profile ...)
Advising Clariant in connection with aspects concerning the building and operation of a biomass fired combined heat & power plant aimed at delivering electricity and steam to a full-scale commercial cellulosic ethanol plant based on its sun liquid technology which Clariant wishes to develop in Romania. This is the largest project of this type in Romania in the past couple of years and unique by the technology to be used. The assistance includes complex regulatory advice in relation to the operation of the cogeneration power capacity and the structuring of the contractual relationship for the purpose of the building and operation of the cogeneration capacity, as well as permitting aspects including in relation to grid connection. The assistance also included assessment of various contractual structure from the perspective of various limitations existing under Romanian law with respect to the trade of electricity and tolling arrangements.
Representing Distrigaz Sud Retele (part of Engie Romania), the gas distribution services branch of Engie Romania in a major insolvency of state-owned ELCEN, the main thermal energy provider in Bucharest. Apart from the very high stake, this mandate covers extremely complex legal issues, related to the regulatory aspects on energy and providing of thermal energy as public service, financial aspects on state subsidies for such activity, the obligation to continue to supply the distribution services in case of reorganization, the relationship with the other suppliers, the potential reorganization by merger of the debtor. The importance of this insolvency is paramount for the client, in terms of recovery of the past debt, payment of the services during the insolvency and as a future going concern, in the context of the providing of gas distribution services for the production of thermal energy in Bucharest. The matter involved a multi-disciplinary team from the Energy, Litigation/Arbitration, Insolvency/Restructuring/Public Law, Corporate departments.
Assisting on the buy-side Engie Romania with respect to the acquisition from Gazprom of the controlling stake in Wirom, a major regional natural gas distributor and supplier in Southern Romania. The project required mastery of complex regulatory aspects and a harsh negotiation of liability clauses.
Assisting Valorem, a large French renewable energy group in relation to the development of a 50 MW project in Dobrogea region (permitting, general energy framework, specific PPA framework, construction related aspects etc.).
The firm is advising Steag on various matters regarding the renewable power project which it holds and operates in Romania. The advice includes complex regulatory and contractual matters related to electricity market trading and generally to the operation of the wind farm. The constant changing regulatory environment in the energy field raises complex legal issues on which we act upon request from Steag.
Specialist lawyers: Lucian Bondoc, Monica Iancu, Cosmin Stavaru, Bogdan Bunrau, Viorel Dinu, Simona Petrisor.
CHSH GILESCU VALEANU NATHANZON & PARTENERII (see profile ...)
Legal assistance with regard to setting up companies, transfer of shares, obtaining specific approvals, creating plants.
CLIFFORD CHANCE BADEA (see profile ...)
Advising a leading multinational utilities company on the envisaged sale of their Romanian assets, including operations in renewable energy production (wind and solar power plants).
Advising one of the most important European utilities company as bidder for the acquisition of a renewable energy business with assets worldwide, including in Romania.
Advising an international power company as bidder for the acquisition of the Romanian assets of a European utility group, including its operations in renewable energy production (wind and hydro power stations).
Advising a Romanian entrepreneur in relation to the envisaged sale of the majority of his stake in a Romanian fuel trading company.
Advising an important utilities company on the acquisition of two electricity distribution companies in Moldova.
Specialist lawyers: Daniel Badea, Nadia Badea, Madalina Rachieru-Postolache, Loredana Ralea, Mihai Macelaru, Andreea Sisman.
D&B DAVID SI BAIAS SCA (see profile ...)
The law firm provides constant support and advice to OMV Petrom on regulatory matters with impact on client’s current activity and projects in Romania.
Assisting ENI during the court proceedings initiated by the client for the annulment of the Competition Council’s decision imposing a fine of approximately €2.6 million.
The firm provided legal assistance with the drafting of all documentation necessary for the purpose of selecting the intermediary, financial institution/consortium of financial institutions, in charge with trading Electrica stocks on the stock exchange market. Legal assistance during the meetings of Electrica board of directors, the Ministry of Economy/Department of Energy and the Energy Privatisation Department. Legal assistance during the evaluation process of the tenders submitted following the awarding notice for selecting a broker to trade Electrica on the stock exchange market. Legal assistance with drafting various opinions on the tendering process.
Specialist lawyers:Sorin David, Anda Rojanschi, Ovidiu Bold, Dan Dascalu, Ana-Maria Iordache, Ioana Cercel, Adina Oprea, Lucian Bozian.
DENTONS EUROPE - ZIZZI-CARADJA SI ASOCIATII SPARL (see profile ...)
Assisting leading power company on the acquisition of two Romanian companies operating solar parks.
Advising Hidroelectrica on a planned 144A IPO of shares, the most important privatization to occur on the Romanian capital markets and, when closed, the most valuable Romanian IPO (if it is for 15% of the issuer’s share capital, it will have a value informally approximated at €750 million).
Assisting leading power company on the acquisition of two Romanian companies operating wind parks.
Assisting Canadian company on the possible acquisition of several wind farms and PV parks developments in Romania.
Assisting French private equity fund in relation to the complex due diligence and development of a 50 MW Wind Farm.
Specialist lawyers: Claudiu Munteanu-Jipescu, Loredana Chitu.
DLA PIPER DINU SCA (see profile ...)
Advising PNE Wind Romania Energy Holding in connection with 120 MW wind farm projects development in several locations in Romania as well as in connection with the sale of the projects. The firm provides day to day advise to PNE Wind in connection with their project companies in Romania developing wind energy projects. The team is dealing with all legal aspects encountered by the client in connection with its investments in Romania.
Advising Global Green Energy, a local company, to develop solar projects in various locations in Romania. The assistance covered legal structuring and licensing requirements. In a multi-practice team the firm advises the client on various corporate and tax matters in addition to regulatory specific.
Advised Freepoint Commodities Europe LLP in connection with the impact of legislative changes in Romania at the end of 2018 imposing a new tax on turnover for the players in the energy sector as well as, more recently, on the state of emergency measures impact due to the coronavirus pandemic.
Advised a subsidiary of PNE A.G. to develop solar projects in several locations in Romania. The law firm assisted the client to set-up the project companies, to secure the land for the project development and with the licensing process and further development.
Advised the Romanian start-up Watto Stations in connection with the setup/incorporation process of the company. The law firm provided regulatory framework assistance for the Romanian start-up Watto Stations in relation to the setup/incorporation process prior to the investment made by Early Game Ventures. In the second stage, the team assisted Early Game Ventures with the investment in Watto Stations.
Specialist Lawyer: Paula Corban - Pelin.
DORU TRAILA, SILVIU STRATULAT, ADRIANA ALMASAN, ANDREI ALBULESCU - ATTORNEYS AT LAW (see profile ...)
Providing a comprehensive service to our energy and resources clients in areas like: renewable, upstream and downstream oil&gas electricity, gas, water, waste, low carbon/sustainability and regulation across all disciplines. Our team will help clients to structure, acquire, finance and implement projects and manage their investments and, together with our international partners, can deliver integrated cross-border legal services that are unrivaled covering the full spectrum of Energy and Natural Resources related issues.
Assisting an important investor acting in the field of production of green energy in acquiring the majority shareholding of a Romanian company holding a wind farm located in Constanta County, part of a complex investment of Euro 5,000,000.
Assisting 6 different companies in acquiring and developing wind farms on Dobrogea plateau and Muntenia plateau, project targeting a total power output of more than 450 MW. Assisting a Romanian owned company in acquisition of an SPV, holding a micro-hydro power plant project near Bistrita Nasaud.
Assisting one of the largest state owned thermo power plants in Romania in extending its capacity (agreements with the constructions companies, environment authorities etc.). Assisting one of the most important power traders on the Romanian market to conclude a EUR 39.3 million PPA with an important energy producer.
Assisting through all the phases of an important project that consisted in the merger of 5 of the main energy producers on the Romanian market. Assisting several clients during the negotiation process with a major water base energy producer under a force majeure situation.
Specialist lawyers: Doru Traila, Silviu Stratulat, Adriana Almasan, Andrei Albulescu;
DRAGNE & ASOCIATII (see profile ...)
Assisting a leading Romanian energy producer (state owned) in six litigation files vs the energy traders, having mutual claims evaluated at the amount of EUR 450 million. The claims derive from long term sale-purchase contracts concluded with the Client and could have a significant impact on the latter’s commercial activity. The client’s undergoing insolvency procedure.
Advising the largest copper domestic Romanian producer (state owned) in a litigation case vs. a business partner, the value in dispute exceeding EUR 17,3 million. The case concerned the annulment of a contract and it was successfully finalized, the client being exempted of the claims. The trial was two-folded and started in 2010, the favorable solution permitting the client to rewind the privatization process
Representing a mining company regarding the qualification of an investment as a state aid.
Specialist lawyers: Ioana Oprea, Andreia Dumitrescu;
IJDELEA & ASOCIATII (see profile ...)
Advising Black Sea Oil & Gas on all aspects related to the implementation of the Midia Gas Development Project (MGD), the first offshore gas production and offshore-onshore infrastructure to be carried-out in Romania in the last 30 years. The assistance covered all legal matters related to concession rights, transfers of participating interest in the concession, permitting, regulatory and compliance matters, land acquisition and securing of rights of way, connection with the NTS and gas transmission matters, EPCIC and drilling agreements, gas sale agreements and procedures, licensing, ESIA process, $200 million project finance, general corporate and commercial matters, as well as public and governmental affairs, advocacy and enactment of necessary legislation. As MGD is becoming an energy transition vehicle, the team is advising the client on all matters regarding the development of an onshore solar park, an offshore wind farm and of offshore green hydrogen. Specialist lawyers: Oana Ijdelea, Siranus Hahamian, Lorena Vasvari, Alexandru Popescu.
Advising Raffles Energy in relation with the acquisition from OMV Petrom of the 100% participating interest in several onshore petroleum blocks. The mandate includes the full suite of the acquisition process, including a detailed legal due diligence on real estate and regulatory and permitting matters, the structuring of the transaction and the reviewing and amendment of the seller’s proposed draft business transfer agreement and the entire package of the transaction documents. Specialist lawyers: Oana Ijdelea, Siranus Hahamian, Lorena Vasvari, Luiza Catalinescu.
Advising Green Genius on all aspects related to corporate, real estate, regulatory, compliance and licensing requirements for the development of several solar projects in Romania, reaching a planned capacity of 500 MW, including the entry into standard EPC contracts with various third parties. Specialist lawyers: Oana Ijdelea, Siranus Hahamian, Luiza Catalinescu.
Advising Renovatio Group in relation to the development of Borzesti CCGT having an installed capacity of 420 MW. A particular challenge of the mandate consisted in the obtaining of Transgaz regulatory approvals and negotiation and execution of connection agreements with the national gas transmission system. Specialist lawyers: Oana Ijdelea, Alexandru Popescu, Lorena Vasvari.
Advised Crest Energy on various energy market requirements, including applicability of price caps and other regulatory measures. Specialist lawyers: Oana Ijdelea, Lorena Vasvari, Andreea Tudor.
KINSTELLAR (see profile ...)
The law firm is advising Dacian Petroleum, a corporation formed by US oil investors, on the upstream acquisition of 40 onshore oil fields from OMV Petrom (including drafting documentation for obtaining NAMR approval, merger control analysis and intensive negotiations of the business transfer agreement). The team is essentially involved on all aspects of the transaction. The matter also includes complex environmental and abandonment issues related to the upstream sector in Romania and is the biggest onshore transaction in Romania in 2019 - 2020.
The firm's local team is advising a Canadian corporation on multiple public award procedures concerning the Cernavoda Nuclear Power Plant with the team advising on all aspects regarding the participation of the client in the investment, including energy and nuclear regulatory, public procurement, corporate, service contracts, EURATOM notifications, etc.
Advising a multinational utilities company on all regulatory, contractual and Romanian law aspects regarding its long-term gas contract with Black Sea Oil & Gas.
Advising a Hungarian giant in the energy sector, on the gas purchasing contracts from the Black Sea, involving complex structuring, negotiations, regulatory aspects, etc.
The firm's local team is advising a confidential Swiss energy player on complex disputes with 2 main steel producers in Romania. Advice involves court claims and energy supply and regulatory matters derived from the agreements with the suppliers.
Specialist lawyer: Iustinian Captariu.
LEROY SI ASOCIATII (see profile ...)
Engie Romania (member of Engie Group), a major operator on the Romanian natural gas market, filed a claim against the Romanian Energy Regulatory Authority, requesting the issuance by the Authority of an order to adjust the regulated prices for the natural gas supply, the unitary regulated revenue and the total unitary regulated revenue. The company also requested the payment of damages to compensate for the losses. This has been a complex case, requiring highly specialized skills. The legal issues at stake were novel and, to the best of our knowledge, had never been submitted to the courts’ scrutiny in the past. The law firm's involvement concerned, inter alia, establishing the litigation strategy, drafting litigation documents and representing the client in court.
The law firm is advising their long standing client Engie Romania (member of Engie Group), one of the largest global energy players, in five disputes against the Romanian Energy Regulatory Authority (ANRE) and/or against S.N.T.G.N Transgaz, the technical operator of the Romanian National Transport System for natural gas, over the calculation of the regulated tariffs for the exceeding of the capacity reserved in the National transport system for natural gas and recovery of the amounts which were wrongly invoiced to our client. These cases are of a highly technical nature, requiring highly legal specialized skills, understanding of the technical aspects involved in the transportation of natural gas and as well as an in-depth knowledge of the natural gas sector. Furthermore, the legal issues at stake are novel and the manner in which they will be settled by the Court is of paramount interest to the future functioning of the natural gas market. The firm is currently representing the client in the legal proceedings against the regulatory authority and against S.N.T.G.N. Transgaz. The court of first instance has already confirmed the firm's client position in one of the cases.
Assisted Engie Romania (member of Engie Group) in a litigation file against the Romanian Energy Regulatory Authority, by which the client sought the annulment of a fine applied by this authority. The subject matter of the dispute consisted in the fulfilment by Engie Romania of a regulatory obligation. Apart from exempting the client from the payment of an important fine, winning this case constitutes a landmark victory with regard to the manner in which the fulfilment of such obligation should be assessed by the authority. The firm's involvement concerned, inter alia, establishing the litigation strategy, drafting litigation documents and representing the client in court. In October 2019, the Bucharest Tribunal has ruled in favor of the firm's client. The decision is final.
The firm has represented Wirom Gas (member of Engie Group), an operator on the Romanian natural gas market in a claim against the Romanian Energy Regulatory Authority, requesting damages for the Authority’s failure to fulfil its legal obligations concerning the setting of regulated tariffs for the distribution of natural gas. This has been a complex case, requiring highly specialized skills. It must be emphasized that the legal issues at stake were different from the other cases concerning the energy sector described in this submission. Such legal issues were novel and, to the best of the team's knowledge, had never been submitted to the courts’ scrutiny in the past.
Assisted Expert Petroleum, a company specializing in resources optimization, operations restructuring and production enhancement techniques, in a new dispute initiated by a local NGO, Asociatia Salvam Campia de Vest, regarding the annulment of a series of petroleum agreements operated by the firm's client. In January 2018 the Court ruled in favor of the client. The NGO filed a recourse, the firm is currently assisting the client in the appeal phase.
Specialist lawyers: Bruno Leroy, Andreea Toma, Eleanora Udroiu, Mihnea-Ioan Ratiu.
MARES & MARES (see profile ...)
Legal advice and assistance of the Italian company, Gas Plus, regarding the exploration of offshore oil and gas in the Black Sea.
MPR PARTNERS | MARAVELA, POPESCU & ASOCIATII (see profile ...)
Representing the Romanian Ministry of Public Finance in an ICSID arbitration where claimants, that are from various jurisdictions, Austria, the Netherlands, Germany, Romania and Cyprus (a total of 10 companies), have substantial monetary claims against Romania, with regard to legislative changes, concerning green energy legislation.
Assisting a major aggregates and concrete producer active in Europe, and owner one of the largest granite quarries in Romania in connection with a wide range of matters, including general assistance in coordinating and supervising its business activity in the context of a supervised reorganisation.
Retained by two distinct Clients in order to assist with both phases of complex wind energy projects, totalizing 700 MW.
Representing a prominent investment firm focused on the energy and defense sectors, in connection with its purported acquisition of a local company active in the extractive industry specialising in mining projects for extraction and processing of brucite and associated rocks, which is currently undergoing insolvency proceedings.
Specialist lawyers: Gelu Maravela, Alina Popescu, Dana Radulescu, Mihaela Nyerges.
MUSAT & ASOCIATII (see profile ...)
Advising Hidroelectrica, one of the leading players on the Romanian energy services sector, on the structuring of their acquisition of UCM Resita (under
insolvency), one of the biggest industrial manufacturers in Romania.
Specialist lawyers: Razvan Stoicescu, Iulian Popescu, Adrian Danciu, Ana Maria Abrudan.
Advising the Engie Group and in particular, Engie Romania in its preparation and implementation of a set of M&A best practices for M&A deals involving the company, its shares and shareholders.
Specialist lawyers: Razvan Stoicescu, Adrian Danciu.
Advising Wellbore Integrity Solutions, an affiliate of private equity firm Rhône Capital (multi-billion-dollar private equity fund), in the acquisition of the drilling businesses and associated assets of Schlumberger.
Specialist lawyers: Razvan Stoicescu, Iulian Popescu, Adrian Danciu, Andrei Ormenean, Ana Maria Abrudan, Sirin Omer, Bianca Iorga.
Advising Kaufland Romania S.C.S., the leading German retailer (part of Schwarz-Gruppe Selected) in connection with its intent to install own electrical stations for recharge of electric vehicles and other various projects.
Specialist lawyers: Iulian Popescu, Monia Dobrescu, Cristian Cepesi, Andrei Ormenean, Ana Maria Abrudan, Sirin Omer, Bianca Iorga.
Advising Solar Turbines Europe, a Caterpillar company and manufacturer of industrial machinery, in relation to contract negotiations and implementation of the Moldova Project: the development of a natural gas pipeline between Romania and Moldova.
Specialist lawyers: Iulian Popescu, Andrei Ormenean, Ana Maria Abrudan, Sirin Omer, Bianca Iorga
NESTOR NESTOR DICULESCU KINGSTON PETERSEN (see profile ...)
Assistance provided to the largest Hungarian company responsible for the production, distribution and sale of electricity in the acquisition of a micro-hydro power.
Assistance provided to one of the world’s largest publicly traded international oil and gas companies in complying with all the regulatory requirements in view of obtaining various permits and a new zoning documentation required for the offshore project.
Assistance provided to a multinational European energy company in the assessment of the secondary legislation issued by the national regulatory authority in energy from perspective of compliance with national and EU regulatory principles and filling administrative complaints and respectively court against the relevant regulations issued by the regulatory authority.
Assistance provided to one of the largest oil and natural gas producer in Romania and South-Eastern Europe in relation to the interpretation and impact of the newly regulated market obligations introduced initially by the Government Emergency Ordinance 114/2018 and further amended by GEO 19/2019 and GEO 1/2020 and detailed by the secondary legislation.
Assistance provided to one of the largest Romanian electricity suppliers in the implementation of a platform for concluding remote contracts for the supply of electricity and natural gas to end clients, including households.
Specialist lawyers: Gabriela Cacerea, Ruxandra Bologa, Adina Chilim-Dumitriu.
POPOVICI NITU STOICA & ASOCIATII (see profile ...)
Several subsidiaries of Enel on the annulment of the Order no. 168/2018 issued by the Romanian Energy Regulatory Authority that sets the regulated rate of return applied for the approval of the tariffs for the electricity distribution service provided by the concessionaire distribution operators.
Fondul Proprietatea, as significant shareholder in Hidroelectrica, on the annulment of the Order no. 10/2019 regarding regulated energy prices and quantities for electricity sold by producers on the basis of regulated contracts, issued by the Romanian Energy Regulatory Authority as a consequence of the enactment of GEO no. 114/2018 which has reintroduced the energy regulated market.
Several subsidiaries of Enel on the annulment of the Order no. 169/2018 issued by the Romanian Energy Regulatory Authority approving the Methodology of setting of the tariffs for the electricity distribution services.
Fondul Proprietatea, as significant shareholder in Hidroelectrica, on the annulment of the Decision no. 324/2019 determining the regulated prices for energy and the quantity of energy sold based on regulated agreements between 01.03.2019 - 31.12.2019 by Hidroelectrica, issued by the Romanian Energy Regulatory Authority.
Fondul Proprietatea, as significant shareholder in Engie Romania SA, on the annulment of the agreements concluded between companies of Engie group with regard to the natural gases to be extracted from the Black Sea.
Specialist lawyers:Ciprian Dontu, Justin Anghel, Dan Petrache.
REFF & ASSOCIATES SCA (see profile ...)
Advising a major electricity provider in connection with the acquisition of two photovoltaic projects located in Romania.
Advising a leading renewable energy and high quality solar products producer in connection with the acquisition and development of two photovoltaic projects with a total capacity of 20 MW located in Romania.
Advising a leading renewable energy producer on business restructuring in Romania as well as in relationship with the spin-off of a wind farm project.
Advising a local renewable energy producer in connection with the development of three photovoltaic projects in Teleorman county, Romania.
Advising the most dynamic real estate investment fund in relation to the mechanism proposed to be implemented with respect to power supply and distribution within the building(s) after obtaining related energy licenses.
Specialist lawyers: Georgiana Singurel, Associate Partner, Head of practice, Silvia Axinescu, Senior Associate;
RTPR ALLEN & OVERY (RADU TARACILA PADURARI RETEVOESCU SCA IN ASSOCIATION WITH ALLEN & OVERY LLP) (see profile ...)
Advised two major European banks in connection with the EUR85m secured financing extended to a Romanian subsidiary of a leading Korean company for the development of a 45 MW photovoltaic park located in the County of Giurgiu (one of the largest photovoltaic projects in Romania to date).
Assisted a Slovak investor in connection with several financings amounting to EUR 13.15 million, extended to Romanian companies controlled by Slovak investors, to finance the construction and operation of photovoltaic plants located Bihor, Timis and Dambovita.
Specialist lawyers: Victor Padurari, Mihai Ristici, Anca Rusu, Cosmin Tilea;
SCA MCGREGOR & PARTNERS (see profile ...)
Permanent assistance on the execution of production enhancement contract between Petrofac Solution &Logistics and OMV Petrom.
SUCIU POPA (see profile ...)
Advising an oil & gas international group in connection with structuring and creation of an investment fund as a way to promote investments in a number of sectors such as energy and infrastructure, with projected investment values of over USD 1 billion.
Advising an international oil group with operations in 15 countries on the environmental compliance matters for Vega Refinery located in Ploiesti. As part of our mandate, we are advising on the permitting of the project, as well as regulatory, tendering and contract issues.
Advising a private oil and gas exploration and production company focusing on conventional exploration, development and production opportunities on various issues resulted from the acquisition of 19 onshore oil & gas fields, workover rigs and associated crews from the largest Romanian oil and gas group, including on the take-over of several gas power generation units and the power distribution grid pertaining to the aforementioned oil fields.
Representing a major energy company active in hydro power generation and services in complex disputes for the recovery of receivables from one of the most important energy traders.
Assisting one of the largest international energy providers in finalizing the acquisition of 13.6% of the share capital of two Romanian distribution and supply companies, which increased its interest to 78%; the acquisition of the additional share stake involved a total consideration of EUR 400 million.
TONCESCU SI ASOCIATII SPRL (KPMG Legal) (see profile ...)
Legal assistance during the merger process of eight companies, which were part of the same group engaged in the production of renewable energy, EDPR Romania - local subsidiary of a global leader in the renewable energy sector. The entire process became complex due to the highly regulated nature of the sector of activity of the merging companies, as well as due to the extremely high number of real estate assets transferred following the merger. The approval of the court was also obtained in record time.
Advising Messer Romania Gaz, leading producer of industrial, medical and special gases in Romania, in relation to the merger process with one of its subsidiaries. The assistance consisted of drafting all the corporate documents and representing the client in court. The project was innovative due to the regulatory aspects of this restructuring operation.
We provided Steag, a amjor player operating in the renewable energy sector, with a legal in-depth and highly complex analysis of the scenarios available to the client’s Romanian local subsidiary to correct its net assets position as to comply with the legal requirements in place.
Representing Siemens Gamesa Renewable Energy Romania, a global leader in renewable energy, with respect to an additional VAT demand established by the tax inspectors of approx. €1.5 million. The main issues were related to the right to deduct the input VAT on expenses incurred on projects (wind farms) that the company had ceased or suspended and whether the costs thereof were incurred with the intention of developing an economic activity, even if this did not happen. This is a very new issue to be discussed in Romanian courts. The issue of deductibility of expenses related to projects that prove to be unprofitable was also new for the Tax Authority.
Specialist lawyers: Vlad Peligrad, Anda Tufan.
TUCA ZBARCEA & ASOCIATII (see profile ...)
Advising China General Nuclear Power Corporation on a large-scale investment estimated at €7.2 billion for the development of Units 3 and 4 at the Cernavoda Nuclear Power Plant in Romania.
Legal assistance for NIS Petrol, the local indirect subsidiary of Gazprom, in the process of acquiring land plots suitable for the development of petrol stations.
Legal assistance to Eurotransgaz SRL, Transgaz’ subsidiary in Moldova, concerning the award of works contracts for the execution of the Pipeline interconnecting Romania’s Gas Transmission System with Moldova’s Gas Transmission System, Phase II, for the Iasi-Ungheni-Chisinau Direction.
Assisting CEZ in relation to its ongoing operations on the Romanian energy market, including advice on energy, regulatory/compliance, corporate, M&A and post-privatisation, PPP and procurement, as well as dispute resolution matters pertaining to client’s operations on the local market.
Legal advice to CEZ AS in connection with the acquisition of High Tech Clima SRL and its branch, High-Tech Clima DOO Serbia. The services included assistance in concluding and negotiating the transaction documents, as well as in the notification to the competition authorities.
Specialist lawyers:Sorin Vladescu, Irina Moinescu, Cristian Radu.
VASS LAWYERS (see profile ...)
Offered legal advice for one of the most important oil company in Romania concerning the organization of public procurement procedures for a series of major projects, with an estimated value of EUR 400 million.
Provided legal assistance and representation to a consortium of several local and international companies in the energy and constructions sector in drafting and advocating claims and complaints against a public procurement procedure for the award of a supply contract of modules for electricity and heat cogeneration with an estimated value of approximately EUR 5 million.
Offered successful legal assistance and representation to a local company in connection with an award procedure organized by the mining company CUPRU MIN S.A. ABRUD with an estimated value of around EUR 2 million.
Legal advice provided to a major Romanian company regarding the concession of mining ponds drain services. Litigation concerning modernization of energy companies - legal assistance and representation concerning a litigation with Oltenia Energy Complex for the modernization works and capital repairing services.
Offered legal assistance and representation in litigations concerning the legal right to extract oil and natural gas from natural deposits located on privately-owned land.
Specialist lawyers: Iulia Vass, Bianca Bello;
VILAU | ASSOCIATES (see profile ...)
Providing legal assistance and representation to a top player on the electricity distribution market in connection with drafting and filing all legal documents necessary in order to obtain the cancellation of Orders issued by the National Regulatory Authority for Energy (NRAE) setting the values of distribution tariffs for two of our client’s subsidiaries.
Providing legal assistance to an electricity supplier and trader for Romania of an international market leader in the solar energy field, in connection with all aspects related to the start-up of its business, including trading electricity and green certificates on the relevant markets, internal procedures and regulations relevant for the electricity supply agreement, as well as drafting and reviewing electricity supply agreements, ESCO agreements and other services agreements, in accordance with the specific applicable legislation.
Providing legal assistance to an important local player in the renewable energy field in connection with the proposed sale of two operational solar parks to an American investment fund, including a review of various legal documents, such as LoI and share sale and purchase agreement, fulfilment of the conditions precedent, as well as correspondence with the investor.
Providing legal assistance to a Romanian subsidiary of an Israeli company activating in the renewable energy field, with respect to all energy-related issues, including for the relevant permits/approvals, negotiating and communicating with the grid operators, drafting agreements and letters in connection with the development and operation of a wind project with an installed capacity of 100 MW: access to the grid, development and permitting (building permits, technical or connection permits) as well as restructuring of the ready-to-build project consisting of the division of the wind park into 3 smaller projects and, consequently, the transfer of the existing superficies agreements and building permits among the project companies.
Providing legal assistance to a major European group active in the solar energy field, consisting of drafting an update to the legal due diligence reports in connection with the project companies developing the 50MW solar power plants.
VOICU & FILIPESCU SCA (see profile ...)
Providing general day-to-day advice in connection with the group’s business activity in Romania for companies active in energy trade and optimization of electricity consumption, part of the largest Hungarian company responsible for the production, distribution and sale of electricity. Rendered services include regulatory (electricity trading license extension, registration with the Romanian Gas and Electricity Market Operator – OPCOM, general advice in relation to the relationship with the sector regulator), corporate matters (transfer or shares, company dissolution, seat relocation – lease including, directors’ appointment), contracts, tax consultancy (general matters, VAT reimbursement). Project coordinated by Senior Partner Marta Popa
Assistance to a top tier oilfield service company, in relation to its intended restructuring process by resizing the company’s Romanian subsidiaries along with reorganization of the remaining entity including services related to business aspects, assistance on the termination of a significant number of employment contracts for business/economic reasons, as well as in one employment litigation case filed by one of the employees terminated in this process – with a positive outcome in favour of the client. Services provided to this client also included assistance in two distinct public procurement procedures organized by a Romanian integrated oil company, the largest corporation in Romania and the largest oil and gas producer in Southeast Europe. Projects coordinated by Senior Partner Marta Popa
Assistance to the leading provider of offshore platform workover and drilling rigs in the U.S. and multiple international market, for general business advice including employment related issues, employment litigation, fiscal aspects such as payroll assistance and reconciliation of the fiscal record of the company, complaints against the tax authorities etc. Project coordinated by Senior Partner Marta Popa (legal) and Tax Partner Alex Tabacu (tax).
Assisted one of the world's leading suppliers of hydroelectric equipment, technology and services, on Romanian legal matters in connection with the international arbitration case between the client and a Romanian state-owned hydropower company (also representing Romania's largest power producer) in connection with a contractual breach as well as in general business aspects related to its presence in Romania. Project coordinated by Partner Raluca Mihai.
Assistance to an international engineering and services group for industrial facilities, power plants, real estate and infrastructure) in a series of public procurement procedures organized by major Romanian energy companies, as well as in the complaints filed in front of the National Council for Solving Complaints (CNSC) and the litigation files pursued in front of the Romanian courts related to the said awards.
WOLF THEISS Rechtsanwälte GmbH & Co KG (see profile ...)
Assisting JSC Dravus Investment a.s. with the analysis and preparation of a potential case against the Romanian State in connection with the losses incurred as a result of the Romanian State amending the renewable energy support scheme. The claim is expected to be initiated in the course of 2018. The case is in advanced evaluation of an arbitration funder.
Name of the team coordinator: Ciprian Glodeanu, Partner
Other relevant information: deal value is EUR 450 million
Completion date: Ongoing
Advising General Electric Power Services Romania S.A. on the registration, sale and leaseback of its generator and turbine manufacturing facility in Bucharest from General Turbo SA. This was the second phase of the transaction upon which Wolf Theiss previously advised GE Albany Global Holdings BV (in the first phase) in relation to the acquisition of a 49% minority stake in Alstom General Turbo SA from the exiting minority shareholder General Turbo SA (which first phase closed in March 2017). This second phase of the transaction (which closed in March 2018) involved the drafting and negotiation of a number of inter-related transaction documents.
Name of the team coordinator: Bryan W. Jardine, Partner
Completion date: March 2018
Wolf Theiss assisted the European Investment Bank (EIB) in relation to the financing, via two tranches amounting to EUR 100 million, granted to Societatea Națională de Transport Gaze Naturale "Transgaz" S.A. to finance the construction of the Romanian section of the gas pipeline from Bulgaria to Austria via Romania and Hungary (BRUA). The BRUA corridor, estimated to cost over EUR 500 million, is a strategic project aimed at increasing security of gas supply and to reduce energy dependence by making it possible to diversify gas supply routes and sources. This operation is backed by the European Fund for Strategic Investments (EFSI) under the Investment Plan for Europe (IPE).
Name of the team coordinator: Claudia Chiper, Partner
Completion date: November 2017
Successfully representing Wind 30 APS and Wind 31 APS, affiliates of VESTAS Group, in first instance and in appeal before the Bucharest Tribunal and the Court of Appeal in relation to a EUR 0.2. million claim arising from an alleged breach of obligations of our clients under a share purchase agreement entered into with a former shareholder.
Name of the team coordinator: Ligia Cecilia Popescu, Partner
Completion date: Ongoing
Assisted ContourGlobal, a growth platform for acquiring and developing wholesale power generation, in the acquisition of a 7 MW photovoltaic project in Romania from Quadrivio Capital. The seller is one of the largest private equity funds in Italy, recently taken over by Green Arrow Capital. Wolf Theiss assisted ContourGlobal in all stages of the acquisition process, from the performance of the due diligence investigation of the photovoltaic project in Romania, to assistance of the Italian counsel in negotiations of the sale purchase agreement and the ancillary transactional documentation, to preparation of the necessary closing formalities, and ultimately to the successful acquisition of the photovoltaic project.
Name of the team coordinator: Ciprian Glodeanu, Partner
Other relevant information: This transaction was part of the acquisition of a cross border portfolio of Quadrivio Capital, involving photovoltaic projects in Italy and Romania, in an over EUR 7 million deal.
Completion date: June 2018