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PeliPartners and Schoenherr Advise on Portland Trust’s Sale of Romanian PV Project

PeliPartners and Schoenherr Advise on Portland Trust’s Sale of Romanian PV Project

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PeliPartners has advised Portland Trust on its sale of the Ratesti 153-megawatt photovoltaic development project to Econergy and Nofar Energy. Schoenherr advised Nofar Energy on the deal.

Financial details of the transaction were not disclosed.

According to PeliPartners, “the process is structured as a share deal transaction, and the closing is envisaged to occur by the end of October 2021.”

Nofar Energy is an international renewables company based in Israel, with projects in Israel, Spain, Italy, the United States, and now Romania. According to Schoenherr, Nofar Energy owns, develops, constructs, and operates photovoltaic systems, mainly in the dual segment (rooftop solar projects and floating solar projects), in addition to ground-mounted photovoltaic projects and battery storage.

Econergy is a UK-headquartered independent power producer that develops, owns, and operates utility-scale renewable energy projects.

The PeliPartners team consisted of Partner Carmen Peli, Senior Associate Madalina Fildan, and Associates Denisa Frincu and Adelina Iordache.

Schoenherr’s team included Local Partner Monica Cojocaru and Managing Attorney-at-Law Madalina Mitan.

Editor's Note: On November 11, PeliPartners announced that the transaction closed successfully.

Subsequently, Vlasceanu, Nyerges & Partners announced it had advised Econergy on closing the acquisition. The firm's team was led by Managing Partner Daniel Vlasceanu and included Managing Associate Raluca Spinu, Senior Associate Mihaela Farin, and Associate Adina Popescu.

Peli Partners at a Glance

PeliPartners is a full service business law firm based in Romania.

A team specialising in complex projects that require innovative approaches, the PeliPartners lawyers have a wealth of experience in a variety of fields, including corporate, mergers and acquisitions, financing, competition, infrastructure & concessions, energy, real estate and corporate law – being involved in some of the most important transactions on the Romanian market for the past 20 years.

Areas of practice

Corporate M&A: With a reputation gained in complex transactions across many sectors (such as financial services, healthcare, energy, IT&C and others), the PeliPartners lawyers are regularly called to assist strategic clients, as well as investment funds or entrepreneurs in relation to various corporate projects, including M&A, structuring or restructuring of groups of companies or corporate governance matters. The firm regularly works in cross-border projects and in collaboration with international law firms.

Finance & banking is a strong practice at PeliPartners, whose lawyers advise across various matters, including financing / refinancing, restructuring, performing and non-performing portfolio acquisitions, regulatory. PeliPartners has a well established reputation with banks and debtors alike. The firm is included in the panel of some of the largest banks present in Romania. PeliPartners advises as well on cross-border financing and restructuring transactions.

Competition & Commercial: PeliPartners’ antitrust practice enjoys a fantastic reputation among international and local clients. The firm’s lawyers are thought leaders and have advised in some of the most complex transactions and projects related to this jurisdiction. They advise on investigations, merger clearance procedures, as well as on various compliance matters, helping clients design and implement distribution, franchise and pricing systems and policies. The firm currently assists clients in sectors such as financial services, IT, telecom, retail, healthcare & pharma.

Real Estate & PPP: With a stellar reputation among local and institutional developers and investors, PeliPartners is called to assist in some of the largest transactions or projects on the Romanian market.

Dispute Resolution: This firm’s clients want to be assisted and represented by PeliPartners when disputes arise in relation to their activity. PeliPartners will put together mixed teams of practice experts and litigation lawyers, that can bring an innovative but thorough approach of each matter.

Firm's website: https://pelipartners.com/