Global law firm Dentons has advised the Lenders, International Finance Corporation (IFC), the private sector arm of the World Bank Group, and Kommunalkredit Austria AG, on the €48.5 million financing provided by IFC for the second phase of Aukera’s Gura Ialomitei battery energy storage system (BESS) project in Romania. The package comprises €40 million of capex financing and an additional €8.5 million tranche related to VAT.
The financing will support the construction of the remaining 100 MW / 200 MWh of capacity, completing Aukera’s flagship 250 MW / 500 MWh Gura Ialomitei project – expected to become Romania’s largest operational battery storage facility and one of the largest in Central and Eastern Europe.
The second phase is expected to enter commercial operation by early 2027.
The first phase, with a capacity of 150 MW / 300 MWh, was financed through a €60 million facility provided by Kommunalkredit Austria AG in November 2025 and reached commercial operation in June 2026.
Acting as lead lender legal counsel, 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 senior associate Catalina Raca, associates Alin Serea and Maria Brinza and paralegal Iulia Alexandrescu (all Banking and Finance), partner Claudiu Munteanu-Jipescu, counsel 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: “The financing of both phases of the Gura Ialomitei project by two leading international financial institutions confirms the growing interest of lenders in battery energy storage projects in Romania, as well as the increasing maturity of this market. We are proud to have advised IFC and Kommunalkredit on this landmark project, which will add critical storage capacity to the energy system and further advance Romania’s energy transition.”
