Clifford Chance Badea, the local office of global law firm Clifford Chance, advised the Renovatio Group in the sale of a photovoltaic park in Satu Mare, with an installed capacity of 100 MW and a storage capacity of 99 MW, to the Greek group GEK TERNA.  Renovatio is one of the most dynamic players in the energy industry, having developed and implemented projects in Romania and other jurisdictions totalling over 3,000 MW of renewable energy.  GEK TERNA is the largest infrastructure company in Greece and a European leader, with activities in construction, energy, real estate, and concessions. The acquisition of the solar park in Satu Mare is part of the recently announced strategy to expand into the Romanian market.  Clifford Chance Badea advised on this transaction with a team including Nadia Badea (Partner), Loredana Ralea (Partner), Radu Costin (Counsel), and Diana Borcean (Senior Associate).  Nadia Badea, Partner, says: "We are honoured to work again with the Renovatio team, one of the leaders in the Romanian energy industry, which has built a valuable international reputation. We congratulate the GEK TERNA group on this strategic acquisition, which strengthens its position locally, while also sending an important signal of confidence in the quality and potential of the Romanian energy market." Loredana Ralea adds: "The year 2026 begins with the closing of another important transaction for the Romanian renewable energy market, reflecting increased investor interest at a time when the local energy transition is accelerating.

A multijurisdictional Clifford Chance team coordinated by the Bucharest office has advised the lender consortium comprising the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and Banca Comercială Română (BCR) in the successful closing of a financing for the landmark Dobrun-Sadova Solar renewable energy project in Romania.  The Project is being developed as a collaboration between Oslo-based Scatec, a leading renewable energy solutions provider making its first investments in Romania, and Istanbul-based DEFIC Globe Enerji, a regional leader in the development of renewable energy projects.  The utility scale renewable energy development involves the construction, operation and maintenance of three photovoltaic solar parks with a total installed capacity of 189.7 MWp in Romania. The Project benefits of CfD-based revenues from two contracts concluded with the Romanian CfD Counterparty.  The Project promotes Romania’s transition toward clean energy, adding significant new solar generation capacity and contributing to national and EU decarbonisation objectives.  The closing marks a significant milestone for Romania’s renewable energy sector and reinforces the role of Scatec and DEFIC Globe as key sponsors advancing the region’s solar generation footprint.  The Clifford Chance cross-border team advising the banks on the financing and due diligence aspects of the transaction was led by a core team comprising Partners Andreea Șișman and Anna Thwaites, Counsel Gabriel Toma, Senior Associate Adelina Seserman, Senior Associate Carmen Buzenche, Senior Associate Diana Borcean, Lawyer Georgiana Cupas and Associate Jeffrey Arthur.  Partner Andreea Șișman said: “We were delighted to work alongside the teams of EIB, EBRD and BCR - three high-profile financial institutions we often join forces with in landmark Renewable Energy transactions. It was also a great opportunity to work with Scatec on their first investment in Romania’s thriving market, an investment that benefits from their global experience, professionalism and commitment to the energy transition.”  Partner Anna Thwaites adds: "We are proud to have advised EIB, EBRD and BCR on this strategic financing deal, which will contribute to the successful development of Scatec’s first and DEFIC Globe's most recent renewable energy project in Romania.