A&O Shearman and RTPR have advised OX2 on its sale of a 99.2-megawatt onshore wind project in Romania to Nala Renewables in a transaction valued at approximately EUR 214 million. CMS reportedly advised the buyer.
OX2 develops, constructs, and manages renewable energy solutions at scale, including onshore wind, offshore wind, solar, and energy storage.
Nala Renewables is a joint venture between IFM Investors and Trafigura.
According to A&O Shearman, the transaction "valued at SEK 2.48 billion (approximately EUR 214 million), is the first sale in Romania for OX2, which strengthens its position in this growing market." The target is a wind farm project comprising 16 Vestas turbines that is set to be constructed in Eastern Romania, with OX2 overseeing the build and subsequent management, including a 12-year power purchase agreement. The project, which begins construction in the third quarter of 2024 and is expected to be operational by the first half of 2026, has secured grid access via Transelectrica.
In 2023, Allen & Overy advised OX2 on the sale of a 20-megawatt onshore wind farm in Bejsce, Poland, to the Enea energy group's Enea Nowa Energia (as reported by CEE Legal Matters on September 18, 2023).
The A&O Shearman team was led by Counsel Kamil Jankielewicz and included Senior Associates Antoni Roszkowski and Farah El Yacoubi.
The RTPR team was coordinated by Partner Mihai Ristici and Counsel Vlad Stamatescu and included Partner Roxana Ionescu, Energy Law Consultant Bogdan Cordos, Counsel Ianita Tui, Managing Associates Andrei Tosa and Cristina Croitoru, Senior Associate Marina Fecheta-Giurgica, Associates Flavia Mincu and Serban Halmagean, and Junior Associates George Capota, Maria Luca, Irina Marinescu, Radu Ciolacu, Andrei Nicolae, Bianca Cojocaru, David Mirea, and Luka Perovic.
