Entering into force on February 19, 2021, the EU Recovery and Resilience Facility aimed, according to the European Commission, “to mitigate the economic and social impact of the coronavirus pandemic and make European economies and societies more sustainable, resilient, and better prepared for the challenges and opportunities of the green and digital transitions.” CEE Legal Matters spoke with lawyers from Bulgaria, Greece, Hungary, Latvia, Poland, and Romania to learn what each country focused on, with its Recovery and Resilience Plan (RRP), and what difficulties lie ahead, now that these plans have been submitted to the EC.
PeliPartners Successful for UNSAR Before Romania’s High Court of Cassation and Justice
PeliPartners has successfully represented the National Union of Insurance and Reinsurance Companies of Romania (UNSAR) before Romania’s High Court of Cassation and Justice in a dispute against the Romanian competition authority.
Dentons and Ionescu & Sava Advise on Asseco’s Acquisition of Bithat
Dentons has advised Asseco Group company Asseco SEE on its acquisition of a majority stake in Bithat Solutions. Ionescu & Sava advised the seller.
Energy Storage in the European Union and Romania - An Overview
The EU has committed itself under the European Green Deal to decarbonizing the European economy and becoming carbon neutral by 2050. To this end, an accelerated transition from fossil fuels as a primary energy source to renewable energy will be required. The integration of intermittent and variable renewable energy sources (e.g., wind and solar) into the power system requires greater flexibility in supply and demand in order to stabilize the power grid, prevent extreme price fluctuations and maintain security of supply and electricity price affordability. Short-term energy storage and multi-month seasonal storage is one of the ways to achieve the goal of such greater flexibility.
CMS and White & Case Advise on EUR 220 Million Investment in Rohlik
CMS has advised a group of investors on a Sofina-led EUR 220 million series D financing round for the Rohlik Group. White & Case advised the Rohlik Group. Linklaters reportedly advised Sofina. Pierstone reportedly advised some of the investors.
Ijdelea & Associates Successful for Black Sea Oil & Gas on Pipeline License from Romanian Energy Regulator
Ijdelea & Associates has provided legal assistance to Black Sea Oil & Gas and its co-venture partners in obtaining the Upstream Pipeline Operating License for the Midia Gas Development Project (MDG) from the Romanian Energy Regulatory Authority (ANRE).
RTPR and Dentons Advise on Engie's Sale of Flashnet to Lucy
Radu Taracila Padurari Retevoescu has advised the Engie Group on its sale of an 80% stake in Flashnet to the Lucy Group. Dentons advised the buyer.
Glodeanu & Partners Advises INVL Fund on Solar Power Plant Acquisitions in Romania
Glodeanu & Partners has advised INVL Asset Management's INVL Renewable Energy Fund I on the acquisition of two companies developing solar power plants in Romania with a capacity of 166 megawatts.
Gheorghe Buta Joins Popescu & Asociatii as Senior Partner
Popescu & Asociatii has announced that Gheorghe Buta joined the firm as a Senior Partner, in June 2022, to lead the firm's dispute and commercial arbitration practice areas.
Tuca Zbarcea & Asociatii Advises on EUR 10 Million America House Renovation
Tuca Zbarcea & Asociatii has advised Morgan Stanley Real Estate Investing on the EUR 10 million technical and aesthetic refurbishment and modernization process of the America House office building in Bucharest.
Dentons Successful for Bibus Metal in Customs Dispute before Romanian Court of Appeal
Dentons has successfully represented Bibus Metal’s Romanian subsidiary Bibus SRL in a customs dispute before the Ploiesti Court Appeal in Romania.
MPR Partners and Schoenherr Advise on V-Ridium’s Acquisition of Solar Park from Samsung C&T
MPR Partners has advised GreenVolt subsidiaries V-Ridium Solar 45 and V-Ridium Renewables on their EUR 83 million acquisition of a photovoltaic project from the Samsung C&T Corporation. Schoenherr and, reportedly, Herbert Smith Freehills advised the seller. CMS reportedly advised a consortium of banks on financing the acquisition.
Closing: S Immo’s Acquisition of Expo Business Park from Portland Trust Now Closed
On June 15, 2022, Peli Partners announced that S Immo’s acquisition of the Expo Business Park from Portland Trust (reported by CEE Legal Matters on April 22, 2022) had closed.
Freshfields, Wolf Theiss, Savoric & Partners, and Filip & Company Advise on Agrofert’s Binding Offer for Borealis’ Nitrogen Business
Freshfields Bruckhaus Deringer, Savoric & Partners, and Filip & Company have advised Borealis on a binding offer for its nitrogen business from the Agrofert group. Wolf Theiss advised Agrofert. Oppenheim, Boyanov & Co, and PRK Partners reportedly advised Borealis as well.
Baker McKenzie, Babic & Partners, DGKV, NNDKP, and Jadek & Pensa Advise Palfinger on Establishing European Employee Representation
Baker McKenzie has advised Palfinger on establishing its European Works Council. Babic & Partners, Djingov Gouginski Kyutchukov & Velichkov, Nestor Nestor Diculescu Kingston Petersen, and Jadek & Pensa advised Palfinger on Croatian, Bulgarian, Romanian, and Slovenian law-related matters, respectively. Bech-Bruun, Arntzen de Besche, and PBBR reportedly advised on Danish, Norwegian, and Portuguese law-related matters.
Flavius Florea Joins Wolf Theiss as Head of TMT, IP & Data Protection
Former KPMG Legal Senior Managing Associate Flavius Florea has joined the Wolf Theiss Bucharest office as a Counsel and Head of the firm's TMT, IP & Data Protection practice.
The Grid Connection – Still a Bottleneck for Renewable Electricity Projects in Romania?
On 31 December 2021, Emergency Ordinance no. 143/2021 amending Electricity and Natural Gas Law no. 123/2012 and amending certain regulatory acts (“GEO 143/2021”) was published in the Official Gazette of Romania no. 1259 and entered into force. GEO 143/2021 is intended to transpose into national law Directive (EU) 2019/944 on common rules for the internal market for electricity and amending Directive 2012/27/EU (“Directive 944/2019”).