BONDOC ȘI ASOCIAȚII advised Tapbury (Management) Limited, a leading Irish renewable developer and investor, on the acquisition of a Romanian company which is developing a wind farm project of approx. 60 MW installed capacity on around 150 hectares of owned land in Dobrogea region. The project having previously secured a substantial level of permitting was put on the shelf some years ago due to the severe cut-off of the incentives scheme by Romania, but now is to be revived after the takeover of the project company by the Irish investor.
Cosmin Stavaru, partner, led the BONDOC ȘI ASOCIAȚII team which was involved in all aspects of the transaction (legal due diligence, drafting and negotiating the transaction documents, closing). The team is also further assisting in the development process of the wind project.
This transaction confirms the positive trend of renewables in Romania indicated by other recent transactions and signals a growing confidence of investors in the long term prospects of this sector and stability of the Romanian legal and business environment.