Tuca Zbarcea & Asociatii has advised Romanian company Electrica on its EUR 4.2 million acquisition of Foton Power Energy from Monsson. Berechet Rusu Hirit advised the seller.
According to Tuca Zbarcea & Asociatii, "the final price will be determined by adjusting the total estimated price according to the authorized production capacity, based on a contractually established calculation formula."
The transaction involves the full acquisition of Monsson's project company Foton Power Energy, which is developing the Bihor 1 photovoltaic project. The acquired photovoltaic park has an installed capacity of 77.5 megawatts of renewable energy.
"The acquisition of this significant new project is a reconfirmation of our commitment to the development of the renewable energy production sector, which, in the current market context, is a viable solution," Electrica’s General Manager Corina Popescu commented. "The energy transition can only be achieved through a joint effort, and the Electrica Group has a very clearly articulated strategy in this regard."
Tuca Zbarcea & Asociatii and Berechet Rusu previously advised on Electrica's acquisition of wind and solar projects from Monsson (as reported by CEE Legal Matters on August 26, 2021).
The Tuca Zbarcea & Asociatii team was led by Partner Sorin Vladescu and included Managing Associates Nisa Jecu and Raluca Misu.
The Berechet Rusu Hirit team was led by Partner Anca Rusu.
