CMS advises on two strategic investments in the Romanian renewable sector

International law firm CMS has advised HELLENiQ Energy Holdings on the acquisition of a 211 MW portfolio of four solar projects developed in Romania by MYTILINEOS Energy & Metals.  The agreement marks HELLENiQ Energy Group’s entry into Romania’s rapidly growing RES market. The total annual production of the projects is expected to exceed 300 GWh of green energy, enough to meet the needs of 100,000 households.

HELLENiQ ENERGY is one of the leading energy groups in Southeast Europe, with activities spanning across the energy value chain and presence in six countries. The group’s main activities include refining, supply, and trading of petroleum and petrochemical products, fuels marketing in Greece and internationally, renewable energy sources, power generation & trading, as well as supply, distribution, and trading of natural gas.

In another round of investments, CMS also advised PPC Renewables on their acquisition of a 84 MW operational wind farm from Lukoil Group. PPC Renewables is a wholly owned subsidiary of the Public Power Corporation SA, Greece’s largest power generation company. It operates over 30 wind farms, 18 small hydro plants, large PV parks, and a hybrid power plant with total installed capacity exceeding 230 MW.

CMS advised both companies on due diligence, structuring of the transaction, drafting and negotiating the transfer documents and project-development agreements, as well as signing.

Horea Popescu, managing partner of CMS Romania and Head of CEE Corporate M&A, said: "These investments represent an important step towards the development of renewable energy production in Romania, a sector in which our country is making rapid progress and is ready for future developments. The CMS team has been working hard to support our clients in a number of key projects in this area, reinforcing our commitment to the transition to green energy. Our M&A practice has seen continued growth in recent times, and we have been involved in a number of significant strategic investments in Romania and the region."

The CMS team advising HELLENiQ Energy Holdings was led by Mircea Moraru (Corporate M&A) under the supervision of Horea Popescu (Corporate M&A) and included Eduard Roventa (Corporate and M&A), Edwina Udrescu, Raluca Diaconeasa (Energy) and Bianca Bănățeanu (Real Estate).

Mircea Moraru (Corporate M&A), guided by Horea Popescu (Corporate M&A), coordinated the CMS team assisting PPC Renewables, which included: Cătălin Vasile (Corporate M&A), Ramona Dulamea, Raluca Diaconeasa, Mădălina Constantinescu (Energy), Alexandru Dumitrescu, Alexandru Trandafir, Bianca Bănățeanu, Tania Baturi (Real Estate) and Florentin Giurgea (Dispute Resolution).