International law firm CMS has advised PPC Renewables on the successful completion of their acquisition in Romania of an 84 MW operational wind farm from Lukoil Group, a deal that was signed and announced in 2023.
Located in Tulcea, the wind farm generates more than 200 GWh of electricity per year.
PPC Renewables is a wholly owned subsidiary of the Greek-based Public Power Corporation SA (PPC). PPC is a leading generator and supplier of electricity in Greece and Romania, servicing 8.7 million customers in total and providing them with more than 35TWh of energy. PPC is now the largest clean energy company in Southeast Europe with 4.5 GW production capacity from renewables and 1.9 GW under construction and a project pipeline of 18 GW.
CMS advised PPC Renewables on due diligence, structuring of the transaction, drafting, and negotiating the transfer documents, as well as on the signing and closing.
Horea Popescu, managing partner of CMS Romania and Head of CEE Corporate M&A, said: “The investment represents an important step towards achieving PPC’s bold green energy production plans in Romania. The CMS team has been working hard to support PPC on this project, which not only reinforces our position as a leading advisor in the renewables sector but also reflects our broader objectives to contribute positively to the global shift towards green energy solutions.”
Mircea Moraru (Corporate M&A), supported by Horea Popescu (Corporate M&A), coordinated the CMS team that assisted PPC Renewables, including: Cătălin Vasile (Corporate M&A), Ramona Dulamea, Raluca Diaconeasa, Mădălina Constantinescu (Energy), Alexandru Dumitrescu, Alexandru Trandafir, Bianca Bănățeanu (Real Estate), and Florentin Giurgea (Dispute Resolution).
