Ijdelea & Associates has assisted a major Swedish-based renewable energy company in relation to the acquisition of several solar park project companies, with the purpose of entering the local market and develop a portfolio of renewable energy projects.
As the world slowly moves toward renewable energy, the International Renewable Energy Agency revealed that solar is the cheapest form of energy the world has ever seen. Encouraged also by the latest legislative updates at the level of the European Union aimed at facilitating implementation of renewable energy projects, the local market becomes more and more attractive for foreign investors. Notably, at country level the recently enacted Law 21/2022 by means of which the prior approval of an urban planning documentation is no longer required for the construction of renewable energy projects on agricultural lands having the III, IV or V quality classes located in the extra muros areas and which do not exceed 50 hectares has been removed.
The mandate was handled by Managing Partner Oana Ijdelea, Partner Siranus Hahamian and Associate Luiza Catalinescu. Ijdelea & Associates team was involved in all phases of the mandate, from the Due Diligence stage to the drafting and negotiation of the transaction documents.