Global law firm Dentons has advised Kommunalkredit Austria AG on the €60 million financing to support the construction of Aukera’s first stand-alone battery energy storage system in Romania. The 250 MW / 500 MWh project, located in Gura Ialomitei, Ialomita County, will be one of the largest storage projects in Central and Eastern Europe.

Kommunalkredit acted as sole mandated lead arranger. The transaction supports the bank’s strategy to actively support the renewable energy sector, a field marked by strong momentum and substantial growth potential.

Acting as the lead counsel for the bank, Dentons’ Banking and Finance team in Bucharest managed and coordinated all English, Romanian and Belgian law aspects of the transaction from structuring to completion.

Bucharest-based Banking and Finance partner Simona Marin led the legal team, assisted by counsel Sandra Constantin, associate Alin Serea (all Banking and Finance), partner Claudiu Munteanu-Jipescu, senior associate Angelica Pintilie and associates Alin Dimache and Carolina Mitea (all Energy), as well as partner Bogdan Papandopol, counsel Luiza Onofrei and associate Diana Anghel (all Real Estate). Banking and Finance partner Tom Geudens and associate Brandon Cheliotis from Dentons’ Brussels office provided Belgian law advice on the due diligence and financing aspects of the transaction.

Simona Marin commented: “We are honored to have supported Kommunalkredit once again in a major project financing in Romania, this time marking Aukera’s first financing in the country. This transaction showcases our team’s ability to deliver large and complex projects, coordinate multi-disciplinary and cross-border teams, and support the development of Romania’s renewable energy sector and the growing momentum for sustainable investment across the region.”