A multi-jurisdictional team of Clifford Chance lawyers from Bucharest and Warsaw advised the Israeli company Nofar Energy România, a leader in renewable energy, in the signing of contracts for EPC, O&M and supply of solar energy production equipment for three photovoltaic parks with a total capacity of 388.6 MW.
The latest agreement, announced last week, is related to the signing of contracts for Engineering, Procurement and Construction (EPC), and Operation and Management (O&M) respectively, with AJ Construction, for a 73.6 MW photovoltaic park in Slobozia, Giurgiu County.
Previously, the Clifford Chance team had advised the Israeli company Nofar in the signing of EPC and O&M contracts with CJR Renewables, for two other 315 MW photovoltaic projects in Giurgiu County.
Nadia Badea, Partner and Head of the Energy practice in Bucharest, says: "We are excited to work alongside Nofar in a series of complex and interesting transactions and contracts, which are significant for the development of the Romanian renewable energy market, and to contribute with the local and international expertise that we, as Clifford Chance office, can bring to our clients."
She also adds: "We have a large portfolio of clients and transactions in the field of renewable energy - we advise developers, infrastructure funds, utility companies and banks throughout the entire project development cycle – the acquisition or sale of projects, signing of EPC and O&M contracts, Power Purchase Agreements (PPAs), development contracts, advising on regulatory matters including project amendments or advising in litigation that may arise during project development. As in other areas, our clients in the energy sector benefit from the entire experience and know-how of the Clifford Chance offices in countries that are more advanced in the development of renewable energy projects. We hope to announce other deals in this area soon."
The support provided to Nofar Energy is part of a larger collaboration between Clifford Chance and the Israeli company, related to renewable energy projects in Romania with a total installed capacity of 643 MW. At the end of last year, the Clifford Chance lawyers advised the company in the signing of the largest contract so far on the Romanian renewable energy market regarding the supply of equipment for solar energy production. The contract stipulates that the LONGi Solar manufacturer will deliver equipment for Nofar Energy projects in Romania totalling, at that time, a capacity of 576 MW.
The team of Clifford Chance lawyers coordinated by Lavinia Dinoci (Head of Construction & Real Estate Practice in the Bucharest office) and Marcin Markowski (Counsel in the Warsaw office) provides legal assistance throughout the entire process, from drafting the documentation for contractors' selection, negotiation, drafting and finalizing of contractual documents, and support during signing. The team also includes Diana Borcean and Carmen Buzenche (Senior Associates, Bucharest), Adrian Król (Senior Associate) and Kinga Grzelczak (Associate) - Warsaw.
The Nofar Energy in-house team is coordinated by Alex Greenberg (Senior Legal Counsel), Elad Michaeli (VP Global Operations) and Sapir Naaman (Civil Engineer).
Lavinia Dinoci, Head of Construction & Real Estate Practice, Clifford Chance Badea, says: "Every successfully finalized project brings us enormous satisfaction and the conviction that we generate added value for the development of know-how in this very dynamic industry of Renewable Energy in Romania. From the beginning, the Nofar team has challenged us with very interesting and ambitious projects. We are glad to have already closed our third matter together, in a relatively short period of time, within a tight transactional schedule, where projects and deadlines overlap. We appreciate the trust, professionalism and transparency that define our excellent collaboration, and we wish them success with future projects."
Favi Stelian, CEO Nofar Energy Romania, says: "One of the first things we look for when we enter a new market is to identify strong partners to work with for the long term. We have found such a partner in Clifford Chance Badea. Their extensive legal know-how and global perspective have proven essential in reaching the first milestones in our investment strategy in Romania."
The renewable energy projects recently advised by Clifford Chance Badea include:
Clifford Chance has been present in Romania since 2006 and operates now as Clifford Chance Badea. The Bucharest office is fully integrated in the global network and is frequently involved in complex transactions such as syndicated loans, project finance, restructurings, Eurobonds and shares issues on international capital markets, derivatives, companies' acquisitions by strategic investors or private equity funds, infrastructure and motorway projects, real estate investments etc., as well as domestic and international litigation and arbitration
For further information about Clifford Chance please access www.cliffordchance.com
