Schoenherr has advised the MET Group on its full acquisition of a solar photovoltaic project in Southern Romania currently in the late planning stages.
Further transaction details were not disclosed.
According to Schoenherr, "the project has a planned installed capacity of 52 megawatts and is expected to reach ready-to-build status by the first quarter of 2023. This is MET Group's first investment in Romanian renewables."
The MET Group is an integrated European energy company headquartered in Switzerland, with activities and assets in natural gas and power markets. According to a company press statement, the "MET Group is already long-established in Romania for over 13 years with its local subsidiary, MET Romania Energy, supplying electricity, natural gas, and energy services to households and industrial consumers."
"Having also acquired renewable energy projects in Italy, Spain, and Poland this year, the MET Group plans to continue growing its European renewables portfolio to 2 gigawatts of installed renewable capacity by 2026," Schoenherr reported.
"We already have solar and wind farm projects in Hungary, Bulgaria, Poland, Italy, and Spain," MET Group Renewables CEO Christian Huerlimann commented. "And now, we onboard our first PV project in Romania which is a nice fit to our growing renewables generation portfolio. As we aim to build a geographically diversified renewables portfolio in Europe, MET also targets renewable energy investments in Germany and other Western European countries. Our expansion strategy focuses particularly on European markets where we already have a local presence, building on our existing operations across the MET Group and providing renewable energy to our local customers."
Schoenherr’s team in Romania included Partner Georgiana Badescu, Local Partner Monica Cojocaru, and Senior Attorneys at Law Vlad Cordea and Alexandra Huza.
