Clifford Chance Badea advised PPC Group in closing the acquisition of Macquarie's renewable energy portfolio in Romania

Clifford Chance Badea advised PPC Group in closing the acquisition of Macquarie's renewable energy portfolio in Romania

Clifford Chance Badea strengthened its Energy and Renewable Energy practice throughout 2024, advising on a record number of renewable energy projects of approximately 5 GW, in various stages of development. The lawyers worked on the largest M&A, financing and development transactions currently under development in Romania.

The most recent project, successfully announced, was advising PPC Group in its EUR 700 million-acquisition of the Romanian renewable energy portfolio of Evryo Group, owned by Macquarie Asset Management.

The deal, including 629MW RES in operation and about 145MW in pipeline assets, was advised by a multi-jurisdictional Clifford Chance team coordinated by Partner Nadia Badea and Counsel Loredana Ralea (Bucharest) and Partner Alex Cook (Munich). The team included Radu Costin (Senior Associate), Lavinia Dinoci (Senior Associate), Carmen Buzenche (Senior Associate), Diana Borcean (Senior Associate), Ecaterina Burlacu (Senior Associate), Eleonora Udroiu (Of-Counsel), Nicolae Grasu (Associate), Roxana Bărboi (Associate), and Filip Marinău (Associate).

Nadia Badea, Partner and Head of the M&A Energy Practice in Bucharest, says: "We have a very good working relationship with PPC Group, with whom we are currently working on several energy and renewable energy projects, and I congratulate them on this strategic transaction. 2024 has been an extremely busy year for us. We are working with the largest and most active energy investors on a record portfolio of approximately 5 GW of renewable projects, across all areas - from acquisition, to development, PPAs and financing. We have ongoing projects with new investors and financiers that we hope to announce next year. I think 2025 will bring even greater effervescence on the financing and construction side as well, as the development of renewable energy projects moves forward."

Loredana Ralea, Counsel with the Energy Practice, adds: "The scale of the PPC - Macquarie transaction confirms that Romania is an important market for renewable energy investors with a long-term investment outlook. We are glad that we assisted PPC in this transaction and that we were able to contribute, through a team experienced in managing complex projects, to the successful closing of one of the most important deals on the Romanian market this year."

The Bucharest office lawyers advise developers, infrastructure funds, utility companies and banks on sell side or buy side M&A, financing, signing of EPC and O&M contracts, PPAs (Power Purchase Agreements), development contracts, regulatory aspects including project modifications, advice on the newly launched CfD scheme or representation in major litigation cases.