PwC Legal Romanian affiliate D&B David si Baias has advised Complexul Energetic Oltenia on selecting the investor-partners for its 1.2-gigawatt decarbonization strategy. Nestor Nestor Diculescu Kingston Petersen reportedly advised OMV Petrom on the partnership for four PV projects. Deloitte Legal affiliate Reff & Associates reportedly advised Tinmar Energy on the partnership for a new gas-fired power plant and four PV parks.
According to D&B, CE Oltenia will build four photovoltaic parks with a total power of approximately 450 megawatts in partnership with OMV Petrom, with investments exceeding EUR 400 million. The other investments, together with Tinmar Energy, will include four photovoltaic parks with a total installed power of 285 megawatts and a 475-megawatt combined-cycle gas-fired power plant in Turceni, for approximately EUR 595 million.
The photovoltaic parks benefit from a 70% financing from the Modernization Fund, and the percentage of financing for the combined-cycle power plant is 50%, the firm announced. Each project will be developed through a separate legal entity, in a 50/50 participation structure between CE Oltenia and OMV Petrom or Tinmar Energy, respectively.
Complexul Energetic Oltenia is a majority state-owned Romanian power producer with 2.3 gigawatts of primarily coal-fired installed capacity.
The D&B David si Baias team included Partner Anda Rojanschi and Senior Lawyers Mihaela Papandreia and Sonia Voinescu.
Editor's Note: After this article was published, NNDKP confirmed it had advised OMV Petrom on the four PV park joint-venture agreements. According to the firm, the parks' total 455-megawatt capacity will be used to replace coal-based conventional energy generation with green energy. The NNDKP team was led by Partner Ruxandra Bologa and included Partners Roxana Ionescu, Anca Diaconu, and Lavinia Ionita-Rasmussen.