Electrica has announced it bought shares in three project companies that are developing a portfolio totalling 207MW of renewable energy. The Romanian company relied on Țuca Zbârcea & Asociații for legal advice on the deal.
Social shares in three project companies owned by Monsson, consisting of two photovoltaic parks in the Satu Mare area and a wind farm in the Dobrogea area have been recently bought by Electrica, Romania’s distribution and supply company, thus reconfirming “the commitment of the Electrica Group towards the development of the electricity production sector from renewable resources”, according to the company’s representatives.
A multidisciplinary team from Țuca Zbârcea & Asociații comprising lawyers specialising in Energy, Corporate and Commercial, Mergers and Acquisitions, Real Estate, Competition, Environmental Law acted for the buyer. The firm advised with respect to the due diligence of the target companies, on the structuring of the transaction and with respect to the drafting of relevant transactions documents, as well as in the negotiations with the sellers and the creditors.
Partner Sorin Vlădescu led the team, alongside Managing Associates Nisa Jecu, Alexandra Pereș and Andreea Oprișan.
Ernst & Young acted as financial consultant for Electrica.