Wolf Theiss advises DTEK Renewables International on the acquisition of an approx. 50MW renewable energy project in Romania

Deniza Cristian 22/05/2023 | 12:22

Wolf Theiss acted as legal advisor to DTEK Renewables International, a growing investor and operator in renewable energy in Romania and the EU, in relation to the staggered share deal acquisition of a 49.38 MW installed capacity photovoltaic power plant located in Glodeni village, Mureş county. This greenfield development was acquired from Finas Invest SRL, a Romanian company based in Cluj-Napoca operating in the renewable energy market.

Under the direction of Partner Ileana Glodeanu and Counsel Adina Aurel, Wolf Theiss team provided legal assistance to DTEK Renewables International for the acquisition of several projects in Romania over the last years. In these multiple transactions, the team assisted with complex due diligence exercises, provided legal advice on mergers control and foreign direct investment notification procedures, as well as drafting and negotiating the share purchase agreement, articles of association and other closing transactional documentation for the implementation of the project.

In addition to Partner Ileana Glodeanu and Counsel Adina Aurel, Wolf Theiss involved a wider team from several practice groups for the successful completion of the transaction: Corporate /M&A – Senior Associate Cornelia Postelnicu, Associates Iulia Cumpăratu, Elena Ionaşcu, Marius Moldoveanu and Vlad Catană; Real Estate & Construction – Counsel Dana Toma and Associate Alexandru Roman; Competition & Antitrust – Partner Anca Jurcovan and Associate Maria Ionescu.

“We are excited to have been involved in yet another success story representing our long-term regional client, DTEK Renewables International. We are grateful to our client and to the Romanian developer involved in the transaction for the commitment they have shown towards the swift completion of this project in order to get this photovoltaic park connected as quickly as possible”, stated Ileana Glodeanu, Partner and Head of the Corporate / M&A practice in the Wolf Theiss Bucharest office.

“Investor appetite for business in the field of energy, energy efficiency investments and renewable energy production is high and has increased a lot in recent years in Romania. Our lawyers continue to successfully land renewable energy deals, given their extensive experience in assisting and completing both buy-side and sell-side transactions in the energy sector. Wolf Theiss has a long collaboration history with DTEK Renewables International and working on this transaction underlines our support in implementing renewable energy projects and creating a solid legal framework and practice in Romania for such investments”, stated Adina Aurel, Counsel Wolf Theiss Bucharest office.

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