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Tuca Zbarcea & Asociatii and Berechet Rusu Hirit Advise on Electrica's Acquisition of Foton Power Energy from Monsson

Tuca Zbarcea & Asociatii and Berechet Rusu Hirit Advise on Electrica's Acquisition of Foton Power Energy from Monsson

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Tuca Zbarcea & Asociatii has advised Romanian company Electrica on its EUR 4.2 million acquisition of Foton Power Energy from Monsson. Berechet Rusu Hirit advised the seller.

According to Tuca Zbarcea & Asociatii, "the final price will be determined by adjusting the total estimated price according to the authorized production capacity, based on a contractually established calculation formula."

The transaction involves the full acquisition of Monsson's project company Foton Power Energy, which is developing the Bihor 1 photovoltaic project. The acquired photovoltaic park has an installed capacity of 77.5 megawatts of renewable energy.

"The acquisition of this significant new project is a reconfirmation of our commitment to the development of the renewable energy production sector, which, in the current market context, is a viable solution," Electrica’s General Manager Corina Popescu commented. "The energy transition can only be achieved through a joint effort, and the Electrica Group has a very clearly articulated strategy in this regard."

Tuca Zbarcea & Asociatii and Berechet Rusu previously advised on Electrica's acquisition of wind and solar projects from Monsson (as reported by CEE Legal Matters on August 26, 2021).

The Tuca Zbarcea & Asociatii team was led by Partner Sorin Vladescu and included Managing Associates Nisa Jecu and Raluca Misu.

The Berechet Rusu Hirit team was led by Partner Anca Rusu.

Tuca Zbarcea & Asociatii at a Glance

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.