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Reed Smith, Volciuc-Ionescu, and CMS Advise on Helleniq Acquisition of 211-Megawatt Romanian Solar Portfolio from Metka EGN

Reed Smith, Volciuc-Ionescu, and CMS Advise on Helleniq Acquisition of 211-Megawatt Romanian Solar Portfolio from Metka EGN

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Reed Smith and CMS have advised Helleniq Renewables on its acquisition of a 211-megawatt solar portfolio in Romania from Mytilineos Group's Metka EGN. Volciuc-Ionescu, working with the UK offices of EY Law, advised Metka EGN.

According to Reed Smith, the acquisition included four Romanian entities owing four ready-to-build solar photovoltaic projects with an aggregate capacity of approximately 211 megawatts-peak in southern Romania. "The acquisition of each SPV will be completed, subject to several conditions, the most important being the entry into commercial operation of the respective project it owns."

The first project of 13 megawatts-peak is expected to enter into commercial operation later this year, two projects of 108 megawatts combined capacity in 2024, while the last one of 90 megawatts-peak by the third quarter of 2025. According to CMS, the total annual production of the projects is expected to exceed 300 gigawatt-hours of green energy, enough to meet the needs of 100,000 households.

Helleniq Renewables is the renewables arm of the Helleniq Energy Group, an energy group in Greece and the wider South-East Europe region with activities in oil, petroleum products, petrochemicals, conventional and renewable power production, and power and natural gas trading and supply.

Metka EGN is part of the Mytilineos Group, an industrial and energy group with activities in the metallurgy sector, power plant and battery energy storage unit construction, conventional and renewable power production, and power and natural gas trading and supply.

The Reed Smith team was led by Partner Dimitris Assimakis and included Counsel Minas Kitsilis and Associate Eleni Alexiou.

The Volciuc-Ionescu team was led by Partner Ramona Volciuc-Ionescu.

The CMS team was led by Managing Partner Horea Popescu and Counsel Mircea Moraru and included Senior Associates Edwina Udrescu and Raluca Diaconeasa and Associates Eduard Roventa and Bianca Banateanu.

CMS at a Glance

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.

Firm's website.