ENGIE Romania has completed the acquisition of an operational photovoltaic park, with a total installed capacity of 5.46 MWp, from a company owned by two German investors.
The photovoltaic park is located in the southern part of Romania, in the village of Nenciulești in Teleorman County. The park was put into operation in 2014 and has since produced ~ 42 GWh, the equivalent of the annual electricity consumption of 25,000 households.
ENGIE currently operates a total of 115 MW of wind and photovoltaic renewable energy capacities. Prior to this acquisition ENGIE was present on the local renewables market operating two wind farms and two photovoltaic parks with a combined installed capacity of approx. 110 MW located in the Braila, Galati and Harghita counties.
This acquisition represents a new step, after the acquisition of a photovoltaic park with a capacity of 9.3 MW in December last year, towards achieving the objective of developing the company's portfolio of installed capacity of renewable energies, both by organic growth and by acquisitions.
"We are pleased to complete this acquisition and, at the same time, eager to see it followed by other developments in the green energy area, which will help us build a strong position in the centralized renewable energy sector." said Eric Stab, President & CEO of ENGIE Romania.
Law firm Schoenherr advised on the full range of buy-side legal matters in connection with this M&A deal.
"We are honoured to have successfully advised ENGIE on this transaction. We expect to see more moves from strategic investors in the Romanian renewable energy sector as the market is ready to tap into the country's potential in this industry." said Schoenherr partner Monica Cojocaru who led the team advising on this project.
The Schoenherr team who advised on this project was led by Monica Cojocaru (local partner, corporate/M&A, energy) and included Simona Lehniuc (senior attorney at law, corporate/M&A); Simona Chirică (local partner, real estate and construction); and Mădălina Mitan (managing attorney at law, real estate and construction).