Alina Oprea • 25 May, 2023 at 10:25 AM
DTEK Renewables International, part of the DTEK group founded in 2005 by billionaire Rinat Akhmetov, acquires a greenfield project from the Romanian company Finas Invest SRL, which is based in Cluj-Napoca and operates on the renewable energy market. The acquisition of the photovoltaic plant with an installed capacity of 49.38 MW, located in the village of Glodeni, Mureş county, was announced by the law firm Wolf Theiss, which consulted DTEK Renewables. Law firm Wolf Theiss acted as legal advisor to DTEK Renewables International, an investor and operator in the field of renewable energy in Romania and the EU, in connection with the phased acquisition by social parties of a photovoltaic plant with an installed capacity of 49, 38 MW, located in Glodeni village, Mureş county.
The Wolf Theiss team provided legal assistance to DTEK Renewables International for acquiring several projects in Romania in recent years. In these multiple transactions, the team assisted the client in complex due diligence exercises, provided legal advice on economic concentrations and foreign direct investment notification procedures, as well as in relation to the drafting and negotiation of the sale-purchase agreement, the agreement between associates and other documents necessary for the implementation of the transaction and the implementation of the project.
"Investors' appetite for energy business, energy efficiency investments, and renewable energy production is high and has increased greatly in recent years in Romania. Our lawyers continue to successfully conclude renewable energy contracts, given their extensive experience in assisting and completing transactions in the energy sector on both the seller and the buyer side Wolf Theiss has a long history of collaboration with DTEK Renewables International and our involvement in this transaction underlines our support in the implementation of renewable energy projects and in creating a framework legally and of a solid practice in Romania for such investments," said Adina Aurel, Counsel Wolf Theiss Bucharest.
Founded in 1957, Wolf Theiss is one of the leading law firms in Central and South-Eastern Europe (CEE/EEA). With 380 lawyers in 13 countries, over 80% of the firm's work involves the cross-border representation of international clients. In Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia, and Ukraine, Wolf Theiss represents local and international industrial, commercial, and service companies, as well as banks and insurance companies.