CMS has advised leading Norwegian renewable energy solutions provider Scatec ASA (Scatec) on the agreement to acquire the 77 MW Urleasca onshore wind project from OX2, a leading European renewable energy developer, marking its entry into the onshore wind market in Europe. This deal complements Scatec’s existing 190 MW Dobrun & Sadova solar portfolio in Romania. CMS also advised Scatec on the acquisition and project financing of the Dobrun & Sadova portfolio, which represented Scatec’s first transaction in the Romanian market. Scatec is a leading renewable energy solutions provider that develops, builds, owns, and operates renewable energy plants, with 6.4 GW generation and 2 GWh storage capacity in operation and under construction across five continents. 

CMS advised Scatec on all legal and tax aspects of this highly complex transaction, including the coordination of an integrated multi-stream due diligence process covering the full suite of project, construction and supply arrangements, including the Turbine Supply Agreement (TSA) and Balance of Plant (BoP) contracts. CMS also advised on the transaction structuring, drafting and negotiation of the transfer documentation and execution of the transaction, and will continue to assist Scatec with obtaining the necessary regulatory clearances and all closing-related matters.

Varinia Radu, Head of Energy and Climate Change at CMS Romania and Deputy Head of the CEE Energy, Projects and Construction (EPC) practice, comments: “Scatec’s expansion of its Romanian portfolio with its first wind asset marks a significant milestone. This deal further demonstrates the depth of investor interest in the Romanian renewable energy sector and CMS’s market-leading capability in structuring and executing such complex transactions. We are grateful for having the opportunity to work together with Scatec in another transaction in Romania and we look forward to strengthening our collaboration.”

Ramona Dulamea, Energy Senior Counsel of CMS Romania, comments: “We are pleased to have supported Scatec in further expanding its Romanian renewable energy portfolio through this transaction. Beyond its scale, the deal stands out for its dynamics in a revolving market and the level of complexity involved across the project, construction and transaction workstreams.”

The CMS team was led by Ramona Dulamea (Energy), Catalin Vasile (Corporate M&A) and Edwina Udrescu (EPC), under the coordination of Varinia Radu (Energy). The wider team included Andrei Tercu (Tax); Alexandru Trandafir (Real Estate); Mircea Moraru (Corporate M&A); and Claudia Nagy (Competition & FDI).

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About CMS

Founded in 1999, CMS is an international organisation of independent law firms that offers full-service legal and tax advice. With more than 90 offices across 50+ countries and more than 7,200 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets.

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