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PeliPartners and Schoenherr Advise on Portland Trust’s Sale of Romanian PV Project

PeliPartners and Schoenherr Advise on Portland Trust’s Sale of Romanian PV Project

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PeliPartners has advised Portland Trust on its sale of the Ratesti 153-megawatt photovoltaic development project to Econergy and Nofar Energy. Schoenherr advised Nofar Energy on the deal.

Financial details of the transaction were not disclosed.

According to PeliPartners, “the process is structured as a share deal transaction, and the closing is envisaged to occur by the end of October 2021.”

Nofar Energy is an international renewables company based in Israel, with projects in Israel, Spain, Italy, the United States, and now Romania. According to Schoenherr, Nofar Energy owns, develops, constructs, and operates photovoltaic systems, mainly in the dual segment (rooftop solar projects and floating solar projects), in addition to ground-mounted photovoltaic projects and battery storage.

Econergy is a UK-headquartered independent power producer that develops, owns, and operates utility-scale renewable energy projects.

The PeliPartners team consisted of Partner Carmen Peli, Senior Associate Madalina Fildan, and Associates Denisa Frincu and Adelina Iordache.

Schoenherr’s team included Local Partner Monica Cojocaru and Managing Attorney-at-Law Madalina Mitan.

Editor's Note: On November 11, PeliPartners announced that the transaction closed successfully.

Subsequently, Vlasceanu, Nyerges & Partners announced it had advised Econergy on closing the acquisition. The firm's team was led by Managing Partner Daniel Vlasceanu and included Managing Associate Raluca Spinu, Senior Associate Mihaela Farin, and Associate Adina Popescu.

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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