Țuca Zbârcea & Asociații has obtained the first final ruling of the High Court of Cassation and Justice annulling tax liabilities arising from the creation of fixed establishment in the area of VAT. The sum annulled by the court is EUR 13.5 million. The issue is of great interest to non-resident economic operators and in particular those operating in the Romanian electricity and gas market.

PeliPartners assisted Societatea de Producere a Energiei Electrice în Hidrocentrale Hidroelectrica, in the acquisition process of the business lines related to the ABC platform and Câlnicel platform owned by UCM Reșița, the oldest industrial unit in Romania.

Clifford Chanceadvised the arranging banks Citi, Erste, HSBC, JP Morgan and Société Générale in relation to Romania's two most recent bond issues on foreign markets, totaling EUR 4 billion. In addition to the conventional bond tranche worth EUR 2 billion, due in 2031, Romania launched its Green Bond Framework program with a first tranche of bonds due in 2036, which raised EUR 2 billion. 

On February 1, 2024, the Romanian Energy Regulatory Authority (“ANRE”) published for public consultations a draft of order amending the main grid connection regulations (the “Draft”). The public consultations will be conducted for a period of 30 days.

Wolf Theiss advised ACP (Accession Capital Partners) Credit, a group of investment funds based in Luxembourg, in relation to a EUR 10 million credit facility granted to Mogo IFN, a subsidiary of Eleving Group. The credit facility will serve to finance Eleving Group's expansion in Romania.

PeliPartners assisted Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investing, in a EUR 140 million investment with Hyperion Energy Investments SGPS S.A., a company that engages in the development of and investment into renewable energy projects in Iberia and Central and Eastern Europe (CEE).

Filip & Company law firm has assisted Fondul Proprietatea S.A. in the sale of its minority shareholding in Engie Romania S.A. 
The overall value of the transaction exceeded EUR 86 million. The closing of the sale is subject to the approval of the shareholders of Fondul Proprietatea S.A..