Vlasceanu & Partners is pleased to have assisted Econergy Renewable Energy Ltd, through its Romanian SPV, in securing an approximately €31 million project financing from Kommunalkredit Austria AG for the 60 MW Ovidiu photovoltaic project in Romania, currently under construction.

The financing will support the development and construction of the project through to commercial operation and represents Econergy’s second transaction with Kommunalkredit in Romania. The Ovidiu project is also expected to be hybridized with a battery energy storage system (BESS).

Vlasceanu & Partners advised Econergy on all legal aspects of the financing, including the negotiation of the financing and security package, as well as the successful closing of the transaction.

The financing team included Loredana Vlasceanu (Partner), Madalina Mailat (Counsel) and Mihai Uricariu (Associate).

The mandate was supported by the firm’s due diligence team, including Raluca Spinu (Partner), Mihaela Farin (Counsel) and Stefania David (Managing Associate).