Țuca Zbârcea & Asociații counseled OMV Petrom on two major Romanian green transactions

OMV Petrom announced the acquisition of a 50% stake in the largest portfolio of wind energy projects in Romania and the acquisition of the entire company that owns the largest network of charging stations for electric vehicles in Romania.

Țuca Zbârcea & Asociații advised OMV Petrom on the acquisition of a 50% stake in Electrocentrale Borzești and a 100% stake in Renovatio Asset Management. Electrocentrale Borzești owns renewable energy projects with a capacity of approximately 1 GW, consisting of 950 MW of wind power and 50 MW of photovoltaic power. Renovatio Asset Management owns the largest electric vehicle charging network in Romania, with over 400 charging points.

The legal assistance included the preparation of the legal due diligence report and the drafting and negotiation of the documents related to the two transactions. The services also covered legal advice to define the framework of cooperation between OMV Petrom and Renovatio in the development of photovoltaic and wind power plants in the coming years.

The team was led by Partners Cornel Popa, Silvana Ivan and Alexandra Pereș, as well as Managing Associate Nisa Jecu.

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Țuca Zbârcea & Asociații is one of the largest independent law firms in Romania, operating successfully in all areas of business and commercial law. It is also the highest ranked law firm in Romania in the Legal 500 EMEA legal directory and, in general, is ranked in the top tier of Romanian law firms, receiving praise from clients and peers alike for its ability to provide innovative and practical legal solutions.