Schoenherr Romania advised Nofar Energy on the acquisition of a 255 MW solar photovoltaic (PV) project under development from Portland Trust. Expected to become operational in 2024, this is Romania's largest solar PV park. It spans 290 hectares in Corbii Mari, Dambovita county and is expected to generate 362 GWh of renewable energy a year, enough to cover the electricity consumption needs of approx. 160,000 households.
With this transaction, Nofar Energy's renewable energy portfolio in Romania reaches a total capacity of 1 GW, including operational solar PV projects, as well projects under construction and pre-construction.
"This major acquisition further strengthens Nofar Energy's position as a leading player in the Romanian renewable energy market," said Monica Cojocaru, local partner, who led the Schoenherr team advising Nofar Energy in this transaction. "It is the second transaction between Nofar Energy and Portland Trust after the acquisition of the Ratesti solar PV park and we are delighted to have been part of both these M&A deals. Congratulations to the parties on achieving this milestone transaction in the local market, which ran very smoothly thanks in part to their previous collaboration."
Nofar Energy is a world-leading company in renewable energy investments. The company is listed on the Tel Aviv Stock Exchange and is active in developing, operating and storing energy produced from PV power plants and wind parks. Nofar operates in Spain, Italy, Israel, Poland, Romania, the United Kingdom and the United States.
A long-established real estate developer in Romania, in the past few years Portland Trust has diversified its business with large-scale projects in the green energy segment. This year marked the acceleration of renewable energy projects in the company's portfolio.
The Schoenherr team advising Nofar Energy in this transaction was led by Monica Cojocaru (local partner) and included Vlad Cordea (senior attorney at law) and Simona Lehniuc (senior attorney at law). Real estate matters were covered by Mădălina Mitan (local partner), Alexandra Huza (senior attorney at law) and Laura Buzatu-Teodorescu (senior attorney at law), while FDI filing was covered by Georgiana Bădescu (partner) and Darius Trușculete (attorney at law).
The information provided by KomuniK
Romanian prime minister Marcel Ciolacu said on Monday, February 24, that a "lasting peace" in Ukraine cannot be achieved without the involvement of the United States, and argued that Romania does not have to choose between it and the European Union. The statements come as the Trump administration is currently negotiating a resolution to the […]
Romania's acting president, Ilie Bolojan, has invited leaders of parliamentary parties to consultations on Wednesday, February 26, to prepare the country's stance for the extraordinary European Council meeting on March 6 in Brussels. The summit, convened by European Council president Antonio Costa,...
Roughly 40 searches took place in the Port of Constanța and other locations on Monday, February 24, in an investigation by the Anti-Corruption Directorate, or DNA, targeting influential local businessmen, former customs officials in the port, and one of the leaders of the Constanța branch of the governing Social Democratic Party (PSD). The prosecutors’ accusations […]
The Bucharest Community Foundation has announced funding for two new projects aimed at enhancing climate resilience in the Romanian capital by implementing sustainable ecological solutions to improve urban infrastructure and environmental quality. The projects were selected through the sixth round of the Environmental Platform for Bucharest initiative. Out of 16 eligible proposals, the jury chose […]
One of the hostages released on Saturday, February 22, by the terrorist organization Hamas also holds Romanian citizenship. The exchange took place before another setback in negotiations and exchanges. Hostages Tal Shoham and Avera Mengistu were released during a staged event in Rafah, and hostages Eliya Cohen, Omer Shem Tov, and Omer Wenkert were released […]
Polish company Scallier, who is expanding its network of Funshop Park retail parks in Romania, is set to open a new shopping center in the Arad region. The opening date for the roughly 10,000 sqm retail park is March 6. The decision to build a retail park in the Arad region in western Romania was […]
