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MPR Partners and Schoenherr Advise on V-Ridium’s Acquisition of Solar Park from Samsung C&T

MPR Partners and Schoenherr Advise on V-Ridium’s Acquisition of Solar Park from Samsung C&T

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MPR Partners has advised GreenVolt subsidiaries V-Ridium Solar 45 and V-Ridium Renewables on their EUR 83 million acquisition of a photovoltaic project from the Samsung C&T Corporation. Schoenherr and, reportedly, Herbert Smith Freehills advised the seller. CMS reportedly advised a consortium of banks on financing the acquisition.

The acquired 45-megawatt peak solar photovoltaic project is located in Giurgiu county, Romania. According to Schoenherr, the project started operating in 2013 and has registered a stable electricity generation profile since then.

GreenVolt is a Portugal-based renewable energy producer active in biomass, solar photovoltaic project energy, and decentralized energy generation. The company started its operations in Romania in 2021.

The Samsung C&T Corporation is a multi-business company consisting of four independent business groups: Engineering & Construction, Trading & Investment, Fashion, and Resort. The Trading & Investment group operates in renewable energy, including wind and solar photovoltaic projects, with the aim to meet the global need for energy diversification.

"This purchase marks another step in the growth strategy defined by GreenVolt," GreenVolt CEO Joao Manso Neto commented. "The Lions park reinforces our generation capacity from renewable sources, opening up a wide range of possibilities for the commercialization of this energy."

The MPR Partners team was led by Founding Partner Alina Popescu and Partner Dana Radulescu and included Partner Daniel Alexie, Senior Associates Diana Borcean and Flavia Stefura, and Associates Oana Savulescu and Sonia Benga.

The Schoenherr team was led by Local Partner Monica Cojocaru and included Partner Georgiana Badescu, Managing Attorney-at-Law Madalina Mitan, and Senior Attorney-at-Law Simona Lehniuc.

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CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

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