Clifford Chance Badea, the local office of global law firm Clifford Chance, advised Rezolv Energy, the portfolio business of global investment fund in sustainable infrastructure Actis, in relation to the acquisition of the 1,044 MW solar plant in Arad County from Monsson Group.
This is the second local transaction advised by Clifford Chance and successfully closed by Rezolv Energy, backed by Actis, in less than two months, after the acquisition of a 51 percent interest in the Vis Viva onshore wind project in Buzau County from UK-based investment company Low Carbon, at the beginning of September.
The Clifford Chance Badea team coordinated by Nadia Badea, partner and Loredana Ralea, counsel provided advise throughout the entire transaction, including on due diligence aspects, regulatory aspects and assistance in drafting and negotiation of contracts. Clifford Chance Badea was supported by the broader Clifford Chance network including clean energy M&A partner Jonathan Dillon from Clifford Chance’s London office.
“This landmark deal confirms that Romania’s renewable energy industry has developed significantly, as it involved two high-profile players in this field – Actis, a major global energy investor looking to develop a solid sustainable energy platform for Central and South Eastern Europe, and Monsson Group, the largest renewable energy developer in Romania, that has been focusing on renewables projects ever since 2004,” Nadia Badea, Partner and Head of the Corporate M&A practice of the Clifford Chance Bucharest office, says.
Counsel Loredana Ralea adds: “After the first transaction successfully closed in September, our client entrusted us with a second major deal which reconfirms their commitment to Romania and the region. The excellent collaboration between all parties involved contributed to a smooth transaction process, which led to the completion of another large and complex transaction that puts Romania on Europe’s solar energy map.”
The Clifford Chance Bucharest team included senior associates Alexandra Voicu, Andrei Caloian and Mihnea Niculescu, and lawyer Carmen Buzenche.
Clifford Chance Badea’s portfolio in the field of renewable energy includes representative acquisitions or development mandates (both M&A and financing) targeting medium and large projects in Romania.