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PeliPartners and Schoenherr Advise on Portland Trust’s Sale of Romanian PV Project

PeliPartners and Schoenherr Advise on Portland Trust’s Sale of Romanian PV Project

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PeliPartners has advised Portland Trust on its sale of the Ratesti 153-megawatt photovoltaic development project to Econergy and Nofar Energy. Schoenherr advised Nofar Energy on the deal.

Financial details of the transaction were not disclosed.

According to PeliPartners, “the process is structured as a share deal transaction, and the closing is envisaged to occur by the end of October 2021.”

Nofar Energy is an international renewables company based in Israel, with projects in Israel, Spain, Italy, the United States, and now Romania. According to Schoenherr, Nofar Energy owns, develops, constructs, and operates photovoltaic systems, mainly in the dual segment (rooftop solar projects and floating solar projects), in addition to ground-mounted photovoltaic projects and battery storage.

Econergy is a UK-headquartered independent power producer that develops, owns, and operates utility-scale renewable energy projects.

The PeliPartners team consisted of Partner Carmen Peli, Senior Associate Madalina Fildan, and Associates Denisa Frincu and Adelina Iordache.

Schoenherr’s team included Local Partner Monica Cojocaru and Managing Attorney-at-Law Madalina Mitan.

Editor's Note: On November 11, PeliPartners announced that the transaction closed successfully.

Subsequently, Vlasceanu, Nyerges & Partners announced it had advised Econergy on closing the acquisition. The firm's team was led by Managing Partner Daniel Vlasceanu and included Managing Associate Raluca Spinu, Senior Associate Mihaela Farin, and Associate Adina Popescu.

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