Lukerg to invest EUR 135 mln in 84MW wind park in Romania

Lukerg Renew will invest around EUR 135 million to build a wind farm in Eastern Romania, Tulcea region, after acquiring the wind project in late 2012.

Lukerg, which is a partnership between Russian oil & gas firm Lukoil and the Italian energy group ERG, will begin building works this quarter. The farm is expected to start commercial operations next year. The company will use a long term non-recourse loan to finance the project.

Law firm Wolf Theiss and the professional services firm Ernst&Young advised Lukerg on the deal.

The Wolf Theiss team that coordinated the deal comprised of partner Ciprian Glodeanu and counsel Ileana Glodeanu. They were supported by two senior lawyers and four associates.

“2012 was a remarkable year for the M&A and renewable energy department of Wolf Theiss,” said Ileana Glodeanu.

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Romania reached 1,779MW of wind capacities by November 2012, according to grid operator Transelectrica.

Ovidiu Posirca