Tuca Zbarcea & Asociatii has advised Electrica on its EUR 600,000 acquisition of Green Energy Consultancy & Investments from shareholders Vlad-Mihai and Tudor-Nicolae Ungureanu.
Electrica is a Romanian electricity distribution and supply company listed on the Bucharest and London stock exchanges.
According to Tuca Zbarcea & Asociatii, Green Energy Consultancy & Investments is developing the Vulturu photovoltaic project, with a designed installed capacity of 12 megawatts DC (peak power at the panels level) and 9.75 megawatts AC (power authorized for delivery into the grid), located near Vulturu, in Vrancea county. “The final price will be determined by adjusting the total estimated price depending on the production capacity, based on a contractually established calculation formula.”
The transaction is “in line with the 2019-2023 Electrica Group strategy, which envisages the expansion in the value chain of electricity, especially in the power production from renewable energy sources,” the firm announced.
Tuca Zbarcea & Asociatii’s team included Partner Sorin Vladescu and Managing Associates Nisa Jecu and Raluca Misu.
Tuca Zbarcea & Asociatii could not disclose additional information on the transaction.
