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Schoenherr Advises Nofar Energy on Acquisition of 255-Megawatt PV Project from Portland Trust in Romania

Schoenherr Advises Nofar Energy on Acquisition of 255-Megawatt PV Project from Portland Trust in Romania

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Schoenherr has advised Nofar Energy on its acquisition of a 255-megawatt photovoltaic project under development from Portland Trust.

According to the firm, the project is expected to become operational in 2024 and "is Romania's largest solar PV park. It spans 290 hectares in Corbii Mari, Dambovita county, and is expected to generate 362 gigawatt-hours of renewable energy a year, enough to cover the electricity consumption needs of approximately 160,000 households."

With this transaction, Nofar Energy's renewable energy portfolio in Romania reaches a total capacity of 1 gigawatt, including operational solar PV projects, as well as projects under construction and in the pre-construction phase, Schoenherr reported.

Nofar Energy is a renewable energy investment company listed on the Tel Aviv Stock Exchange and active in developing, operating, and storing energy produced from PV power plants and wind parks.

Portland Trust is a Romanian real estate developer that has diversified its business with large-scale projects in the green energy segment in the past few years.

The Schoenherr team was led by Partner Monica Cojocaru and included Partners Madalina Mitan and Georgiana Badescu, Senior Attorneys at Law Vlad Cordea, Simona Lehniuc, Alexandra Huza, and Laura Buzatu-Teodorescu, and Attorney at Law Darius Trusculete.

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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