RTPR has assisted Repono AB in relation to the acquisition of a battery energy storage system (BESS) with a capacity of 202 MW/404 MWh. The project, located in Arges County, is ready-to-build, and upon completion it will be one of the largest grid-scale storage assets in Southeast Europe.
Repono AB is a Swedish-based independent energy storage operator and developer focused on deploying large-scale battery energy storage systems (BESS) across Europe.
The team of lawyers who assisted on this mandate was made up of Partners Roxana Ionescu and Bogdan Cordos, Vlad Stamatescu (Counsel) and George Capota (Associate).
“We are honoured to add this project to our track record of M&A transactions in the energy sector. We would like to congratulate the Repono team and thank them for trusting us with this mandate. We are pleased to have contributed to the success of this project with our extensive expertise in multiple practice areas”, said Roxana Ionescu, Partner at RTPR.
“Energy remains a hot investment topic, not only in Romania, but also in Eastern Europe, where there is still room for growth, and renewable projects and storage capacities will remain in the spotlight for acquisitions. The transaction we have just helped to close is fully in line with this trend and contributes to Romania’s energy transition”, said Bogdan Cordos, Partner at RTPR.
RTPR’s unrivalled expertise in the largest and most interesting transactions in Romania and in the region has been recognised by the most important international legal directories, such as Chambers & Partners, Legal 500 and IFLR1000, which rank the law firm on the top tiers for several practice areas, including corporate/M&A and energy. At the same time several team members are recommended as Leading Lawyers or Rising Stars for their areas of expertise.
Selected energy deals in which RTPR have recently advised are set out below:
- OX2 on the sale of a 96 MW onshore wind project located in Galati County
- Evryo Group, owned by funds managed by Macquarie Asset Management, on the sale of its renewable energy portfolio to PPC Group
- OX2 on the sale of a 99.2 MW onshore wind project located in the Eastern part of Romania to Nala Renewables, a joint venture between IFM Investors and Trafigura
- ENGIE Romania on the acquisition of an operational wind farm with a capacity of 80MW located in Chirnogeni, Constanta county
- Macquarie Asset Management (MAM) on the sale of CEZ Vanzare, the main electricity supplier in southwest Romania, to Premier Energy PLC, owned by the Czech private equity fund, Emma Capital
- Macquarie Infrastructure and Real Assets (MIRA) on the acquisition of a portfolio of power assets owned by CEZ Group in Romania, at the time the largest M&A transaction in Romania in the previous 12 years
- The syndicate of banks formed by Banca Transilvania and Banca Comerciala Romana as Mandated Lead Arrangers, and Raiffeisen Bank, BRD – Groupe Société Générale, CEC Bank, ING Bank and Intesa Sanpaolo Bank Romania, as lenders on a RON3.1bn syndicated loan granted to Electrica for the partial refinancing of the existing bank debts of the group, as well as for the development of the renewable energy production portfolio
- Distribuție Energie Oltenia (DEO), the electricity distribution company part of Evryo Group, on a large-scale syndicated loan that refinances existing debt and adds a further RON1.76bn, one of the largest “green” loans ever issued on the Romanian market, being mainly intended to finance additional investments in the next 7 years
