In the current energy context, the RePower Europe package talks about an accelerated permitting procedure for renewable energy in Europe, as an absolutely measure to accelerate the development of green energy projects. However, in Romania, the permitting process for such projects is long, bureaucratic and takes about 540 days.
Energy Storage in the European Union and Romania - An Overview
The EU has committed itself under the European Green Deal to decarbonizing the European economy and becoming carbon neutral by 2050. To this end, an accelerated transition from fossil fuels as a primary energy source to renewable energy will be required. The integration of intermittent and variable renewable energy sources (e.g., wind and solar) into the power system requires greater flexibility in supply and demand in order to stabilize the power grid, prevent extreme price fluctuations and maintain security of supply and electricity price affordability. Short-term energy storage and multi-month seasonal storage is one of the ways to achieve the goal of such greater flexibility.
Brandl Talos, Binder Groesswang, and PHH Advise on Invest AG and EIC Fund Investment into Aviloo
Brandl Talos has advised Austrian battery diagnostics start-up Aviloo on an equity investment by the European Innovation Council Fund and Raiffeisen's Invest Unternehmensbeteiligungs AG. Binder Groesswang advised the EIC Fund and PHH advised Invest AG.
Clifford Chance Advises DNB Bank, PZU, and Santander Bank Polska on Wind Farm Financing
Clifford Chance has advised a consortium of lenders including DNB Bank, PZU, and Santander Bank Polska on a facilities agreement with DIF Capital Partners-owned SPVs for the construction and operation of a 108-megawatt wind portfolio consisting of four wind farms. Allen & Overy reportedly advised the borrowers.
Greenberg Traurig and WKB Advise on ZE PAK’s Acquisition of Great Wind from Neo Energy
Greenberg Traurig has advised ZE PAK Group company PAK-Polska Czysta Energia on the acquisition of the Great Wind project from Neo Investments company Neo Energy Group. Wiercinski Kwiecinski Baehr advised the seller.
Freshfields Advises KFW on EUR 9.8 Billion Loan for Former Gazprom Germania
Freshfields Bruckhaus Deringer has advised German state-owned bank KFW on a revolving credit line of up to EUR 9.8 billion for the former Gazprom Germania.
Ijdelea & Associates Successful for Black Sea Oil & Gas on Pipeline License from Romanian Energy Regulator
Ijdelea & Associates has provided legal assistance to Black Sea Oil & Gas and its co-venture partners in obtaining the Upstream Pipeline Operating License for the Midia Gas Development Project (MDG) from the Romanian Energy Regulatory Authority (ANRE).