Clifford Chance Badea advised MORE in the 86-MW deal
Clifford Chance Badea, is advising Greek-based Motor Oil Renewable Energy Single Member S.A. (MORE), leader in the Eastern Mediterranean energy sector, in the 86-MW deal marking its entry on the Romanian renewable energy market.
MORE alongside Premier Energy Group, through Alive Renewable Holding Limited, has acquired its first two new photovoltaic projects in Buzau County, with a total installed capacity of 86 MW and an additional 18-MWh energy storage capacity. The projects also contemplate the development of battery storage.
The acquisition is subject to customary competition clearance and FDI approvals.
Advising MORE in its first transaction on the local market, Clifford Chance Badea lawyers assisted the client in structuring and negotiating the related transaction documents, both in what concerns project acquisition, as well as the structuring of MORE partnership with Premier Energy in Romania.
Loredana Ralea (Counsel) and Ecaterina Burlacu (Senior Associate) closely assist the client, in a legal team coordinated by Nadia Badea, Clifford Chance Partner.
Nadia Badea, Head of the Bucharest Energy Practice, says: "Romania is on the radar of high-profile renewable energy investors, and we are glad to contribute to another successful transaction marking the local debut of a regional leading player. This deal adds to a representative Renewable Energy portfolio for our firm, which reflects our strong focus and commitment to the industry, and the local and international expertise that our Bucharest Clifford Chance office brings to clients."
