Monsson, Romania’s largest developer of green energy projects, has signed an agreement with Rezolv Energy to complete Europe’s largest photovoltaic park by the end of the first quarter of 2023, to be located in Arad County.
Biriș Goran assisted Monsson Group on the transaction side of this unique project due to its magnitude – the largest PV park of its kind in Europe and continues to assist the developer in the permitting process up to the ready-to-build stage of the PV plant.
The transaction lasted less than two months and was made possible thanks to the combined efforts of several law firms as well as consultants in Romania – KPMG as lead M&A advisor, Biriș Goran SPARL in collaboration with the Berechet Rusu Hirit team as Monsson’s legal advisor, and Clifford Chance as legal advisor to Rezolv Energy.
The PV plant will have an installed capacity of up to 1,044 MW and is designed to include a state-of-the-art energy storage solution. The annual energy production of this PV park can cover the energy needs of more than 1 million households and will generate more than 500 new jobs over the next three years.
“We are very pleased to be part of a project that will provide access to clean energy without subsidies at a stable price for both industrial and commercial consumers. We are always ready to help clients such as Monsson Group, whose projects also contribute to achieving the country’s goals of increasing energy independence and reducing net emissions to zero“, said Teodora Moțatu, Biriș Goran Partner and transaction coordinator.
The Biriș Goran team brought together a strong group of experts – Teodora Moțatu, Partner in the Corporate/M&A practice, Dana Dunel-Stancu, Head of Energy & Sustainability Practice, Gabriel Biriș, Ruxandra Jianu and Sorin Biban, Partners in the Tax practice and Kira Bujduveanu, Senior Associate in the Corporate/M&A practice.
Biriş Goran is a business law firm founded in 2006, with 45+ attorneys and tax advisors, and provides business legal services with a particular focus on tax, real estate, corporate and M&A, competition, litigation, labor, privacy and data protection as well as insolvency. Biriş Goran and its team has been consistently ranked as one of the leading law firms in Romania by such guides as Chambers Europe and European Legal 500.