04
Fri, Oct
98 New Articles

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

Deals and Cases
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

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.

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

Firm's website.

Our Latest Issue