Romania

Romania

Here’s a selection of our energy sector credentials in Romania:

The Romanian Ministry of Energy on a study analysing and proposing a new incentive scheme for investments in clean technologies through the Contracts for Difference mechanism, in association with NERA Economic Consulting. The project refers to renewable subsidies to be granted during 2019 -2030 for the implementation of  additional power generation across technologies, such as  approximately 1.3GW terrestrial wind turbines and 1,050 MW for photovoltaic capacities (i.e. new wind and photovoltaic capacities foreseen in the Energy Strategy Project 2019-2030), increased capacity in hydro from 6,741 MW in 2018 to 7,490 MW in 2030, the two new nuclear reactors- 3 and 4 at Cernavoda, as well as a new capacities based on clean coal technologies.

ROPEPCA – the Romanian Association of Petroleum Exploration and Production Companies as their sole legal adviser in matters related to drafting, together with relevant authorities, amendments to the Petroleum Law, natural gas market regulations, trading, royalty calculation, comprehensive studies and position papers on regulatory, tax or industry specifics, including advise on non-constitutionality and competition matters.

A major local power utility provider and trader providing legal due diligence and transaction assistance in relation to several green energy producers of solar and wind energy.

Valorem SAS in relation to the renewables legal framework, due diligence for acquisition of a wind project, as well as the possibility to conclude long terms physical and virtual power purchase agreements.

A joint venture of renewables producers in connection with the acquisition of the largest greenfield wind farm in continental Europe, over 1 GW, in Romania, including an extensive due diligence regarding the access to the land required for the project, the building permits, the licenses and specific power production authorizations, and the possibility to conclude long term physical and financial power purchase agreements.

Hunt Oil Company on their joint venture agreement with OMV Petrom for two onshore petroleum exploration blocks in Romania – the first onshore joint venture of OMV Petrom. We provided day to day assistance over the course of ten years on a wide range of matters in connection with their oil & gas operations in Romania, including operational compliance with regards to licensing and authorization for drilling, gas trading, environmental issues, land access, building and operating surface facilities and upstream pipelines. Assistance for sale strategy, gas marketing agreements and reporting obligations related to their first gas production, extensions of the exploration phase under the petroleum concession agreement.

Repsol, on their joint venture in Romania with respect to four exploration blocks – the first case of its kind involving the horizontal splitting of blocks. Following this deal, the Petroleum Law in Romania was amended to allow for the separation of petroleum blocks by vertical or horizontal delineation. Providing the full suite of regulatory, compliance, corporate, employment, joint venture management assistance in the context of their contractual relationship with JV partner, including health safety and environment

DWS (part of Deutsche Bank Group), one of the world's leading asset managers in relation to the potential acquisition of a utility service provider in Romania, comprising of the largest power distribution network in the country, including renewables production, trading and services businesses.

Gas Plus Italia, full assistance in the farm out agreement for the offshore petroleum rights and all the ancillary documents, real estate and corporate approvals, advice in connection with the existing financing related agreements, and the request for transfer approval of the concession rights vis-à-vis the National Agency for Mineral Resources,  for the parent and local entities.

Mazarine Energy (part of Carlyle group) on their petroleum and power related production activities, licensing on their gas and power production, post business transfer support on the nice petroleum production fields, including regulatory assistance in connection to gas and electricity production and distribution licensing process from the National Regulatory Authority for Energy (ANRE); regulatory and real estate advise in connection to securing access rights over forestry land to conduct exploratory activity;

Iberdrola- Assistance in acquisition of renewables production, and various regulatory and real estate matters(advise for the obtaining of the building permits for the consolidation of the wind turbines, advice in connection with the civil works agreement for the consolidation of the wind turbines and in connection with an engineering services agreement), regulatory (agreements with Transelectrica for grid connection and capacity, green certificates and electricity agreements, green certificates legislation, operation and maintenance agreements, supply of wind turbines agreements) and insurance matters.

Uniper, MET, Gunvor and other traders - provided support in natural gas market regulatory and licensing matters.

Key contacts

Contact
Picture of Varinia Radu
Varinia Radu
Partner
Head of Oil & Gas, CEE and Deputy Head of EPC, CEE