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Clifford Chance Advises Actis on Romanian Wind Project Acquisition

Clifford Chance Advises Actis on Romanian Wind Project Acquisition

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Clifford Chance has advised Actis on the launch of its portfolio business Rezolv Energy and on Rezolv's acquisition of the Romanian Vis Viva onshore wind project from Low Carbon.

"Rezolv has partnered with Low Carbon to complete the acquisition of a 51% interest in the 450-megawatt Vis Viva onshore wind project in Buzau County, Romania," Clifford Chance informed. "Once operational, Vis Viva will be one of the largest onshore wind farms anywhere in Europe, with the capacity to generate sufficient clean energy to power more than 272,000 homes and avoid approximately 180,000 tons of carbon dioxide equivalent each year. It will play a major role in accelerating the transition away from fossil fuels in Romania, whilst providing long-term, stably priced electricity to commercial and industrial consumers across the region."

According to Clifford Chance, "Rezolv aims to build a multi-gigawatt portfolio of wind, solar, and energy storage projects. This will help companies and countries across the region meet their energy needs in response to energy security challenges and climate policies. It will take renewable energy projects from late-stage development through construction and into long-term operation."

Rezolv Energy is a power producer in Central and South Eastern Europe. Low Carbon is a UK-based investment company.

The Clifford Chance team included Bucharest-based Partner Nadia Badea, Counsel Loredana Ralea, Senior Associates Alexandra Voicu, Lavinia Dinoci, Ecaterina Burlacu, and Andrei Caloian, and Lawyer Carmen Buzenche, Prague-based Counsel Michal Jasek and Associate Tomas Prochazka, as well as lawyers from the firm’s London office.

Clifford Chance did not respond to our inquiry on the matter.

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

Firm's website.

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