Schoenherr has advised Nofar Energy on its acquisition of a 255-megawatt photovoltaic project under development from Portland Trust.
According to the firm, the project is expected to become operational in 2024 and "is Romania's largest solar PV park. It spans 290 hectares in Corbii Mari, Dambovita county, and is expected to generate 362 gigawatt-hours of renewable energy a year, enough to cover the electricity consumption needs of approximately 160,000 households."
With this transaction, Nofar Energy's renewable energy portfolio in Romania reaches a total capacity of 1 gigawatt, including operational solar PV projects, as well as projects under construction and in the pre-construction phase, Schoenherr reported.
Nofar Energy is a renewable energy investment company listed on the Tel Aviv Stock Exchange and active in developing, operating, and storing energy produced from PV power plants and wind parks.
Portland Trust is a Romanian real estate developer that has diversified its business with large-scale projects in the green energy segment in the past few years.
The Schoenherr team was led by Partner Monica Cojocaru and included Partners Madalina Mitan and Georgiana Badescu, Senior Attorneys at Law Vlad Cordea, Simona Lehniuc, Alexandra Huza, and Laura Buzatu-Teodorescu, and Attorney at Law Darius Trusculete.