Vlasceanu & Partners (VLP) has successfully advised Econergy Renewable Energy Ltd., a major player in the renewable energy sector, throughout the sale process involving the transfer of two entities used for the development of 214.26 MWdc of solar power projects in Romania.

These projects are set to be acquired by Entek Elektrik Üretimi A.Ş. (Entek) through its 100% subsidiary, namely Enspire Enerji Yatırımları ve Hizmetleri A.Ş.. The value of the transaction is of approximately 32.9 million euros, subject to further adjustments agreed between the parties. The completion of this transaction is contingent upon receiving the necessary regulatory approvals and completing the ready-to-build permitting process for the full project capacity.

Vlasceanu & Partners has initially assisted Econergy with the acquisition and/or securisation of the project land and the development of the renewable energy capacity.

Throughout the current transaction, VLP provided comprehensive support during the negotiation and signing phases and will continue to assist up until and during the closing process.

Reflecting on the deal, Loredana Vlasceanu, the Partner who headed the legal team of Vlasceanu & Partners, remarked: "We are delighted to have supported our longstanding client, Econergy, in navigating and finalizing the negotiations for this significant deal. It has been a privilege to work alongside highly skilled professionals from both sides. Looking forward to the closing of the deal once all relevant approvals are obtained and conditions precedent are met".