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Wolf Theiss Advises DTEK Renewables on 60-Megawatt Wind Project Acquisition in Romania

Wolf Theiss Advises DTEK Renewables on 60-Megawatt Wind Project Acquisition in Romania

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Wolf Theiss has advised DTEK Renewables International on its acquisition of a 60-megawatt installed capacity wind energy project in Ruginoasa, Iasi county, Romania, from local entrepreneurs. Kommunalkredit Austria AG provided a EUR 55 million senior facility for the project.

According to Wolf Theiss, DTEK Renewables International installed the first wind turbine – with a capacity of 6 megawatts, the largest turbine of its kind in Romania, with a diameter of 162 meters and a hub height of 125 meters – at the wind power plant in Ruginoasa. 10 6-megawatt Vestas V162 EN Ventus wind turbines will be installed by the end of this year as part of this renewable energy project.

"The plant will have a total installed generating capacity of 60 megawatts and, once completed, will produce approximately 150,000 megawatt-hours of electricity annually, which is enough energy to power more than 43,000 homes in Romania, while reducing carbon dioxide emissions by 38,000 tons a year," the firm reported.

The Kommunalkredit Austria AG financing was, according to the firm, one of the first wind farm financings in Romania to be provided based on merchant power pricing.

The Wolf Theiss team included Partners Ileana Glodeanu and Claudia Chiper, Counsels Adina Aurel and Dana Toma, Senior Associate Alexandru Asaftei, and Associates Iulia-Gabriela Curca, Elena Dragan, Marius Moldoveanu, Vlad Catana, Catalin Sabau, and Ana Florea.

The firm did not respond to our inquiry on the matter.

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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). 

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