Business Forum • 27 August, 2024 at 9:48 AM
Clifford Chance Badea advised Nofar Energy, one of the most dynamic renewable energy investors in Romania, in the signing of the acquisition agreement for 100% shares in Aviv Renewable Investment, the project company developing a 160 MW photovoltaic park in Giurgiu County.
The project is adjacent to another solar plant that Nofar Energy has previously bought from the same seller, which Nofar officials named at that time as "probably being the largest investment in renewable energy near Bucharest and in Romania."
The latest transaction adds to a larger collaboration between Clifford Chance and Nofar Energy, related to renewable energy projects in Romania with a total installed capacity of 643 MW, on matters including corporate M&A, Engineering, Procurement and Construction (EPC) and Operation and Management (O&M) contracts, financing agreements, as well as regulatory aspects.
The complex deal was advised by highly experienced Clifford Chance lawyers from the M&A Energy Practice coordinated by Partner Nadia Badea, including Loredana Ralea (Counsel), Radu Costin (Senior Associate), Lavinia Dinoci (Senior Associate), Carmen Buzenche (Senior Associate), Diana Borcean (Senior Associate), and Roxana Bărboi (Associate).
The Nofar Energy in-house team included Favi Stelian (CEO Nofar Energy Romania), Roxana Gherghe (CFO), Ayana Wechsler (VP Global Operations) and Alex Greenberg (Senior Legal Counsel).
Favi Stelian of Nofar Energy said: "This achievement is a testament to the exceptional talent and dedication of our legal team from Clifford Chance and Nofar Energy. I am confident that our mutual efforts will continue to drive our success in future endeavors as we expand our footprint in the renewable energy space.”