Senior Associate

Elena Vlasceanu

Languages

Romanian
English
French

Social media

Elena Vlasceanu is a senior associate in the CMS Bucharest Energy team. With over 17 years’ experience, Elena specialises in energy law, with a particular focus on renewable energy, electricity and gas, and energy-related mergers and acquisitions.

Elena has played a key role in the development and execution of power purchase agreements (PPAs) in Romania, including contributing to the first-ever corporate PPA contract on the Romanian market. She has extensive experience advising on the development and financing of renewable energy projects - spanning solar, wind, and hydro power - with a strong emphasis on regulatory compliance and market entry.

Elena has acted as lead counsel in both buy-side and sell-side M&A transactions in the energy sector, guiding clients through all stages of the deal process. She has advised on some of the most significant transactions in the Romanian energy market, including the largest IPO in Romania to date as well as award-winning acquisitions of major renewable energy assets.

Her expertise also covers advising on structuring PPAs, both virtual and physical, regulatory and commercial arrangements, and complex due diligence processes for both domestic and international clients. Elena’s client portfolio includes leading energy companies, financial institutions, and major industrial players active in the Romanian and European energy markets.

Relevant experience

CCE on the sale of Horia Solar Invest Two S.R.L., a special purpose vehicle developing the landmark Horia 2 solar project, to Renalfa Solarpro Group.
Various Romanian and international energy companies on landmark capital markets transactions, including the largest IPO in Romania and Europe in 2023 and a 144A IPO followed by listing on the Bucharest Stock Exchange.*
Energy producers and investors on complex M&A transactions in the oil & gas sector, including acquisitions involving offshore assets in the Black Sea.*
International energy groups on acquisitions and developments of large‑scale renewable projects in Romania, including wind and solar portfolios exceeding 900 MW in aggregate capacity.*
Energy companies and investors on regulatory and due diligence matters concerning the acquisition of onshore and offshore renewable and conventional energy assets.*
Banks and financial institutions on energy project financings, including due diligence and advising lenders on PPAs, EFET and ISDA agreements.*
Generators, utilities and corporate offtakers on physical and virtual power purchase agreements (PPAs), including first‑of‑their‑kind structures on the Romanian market following market liberalisation.*
Energy companies and lenders on bankable PPA structures, including sleeved and virtual PPAs, and related risk allocation and market‑specific regulatory considerations.*
Energy market participants on disputes and settlements arising out of electricity supply arrangements governed by English law.*

Publications

Renewable energy projects are crucial to the sustainable energy transition (Business Review).
Investing in renewable energy in Romania (Get Market, Ukraine).
Investing in renewable energy projects in Europe (Edition 2023, Romania Chapter).

Memberships & Roles

2006 - Bucharest Bar, Bucharest.

Lectures list

2021 - Speaker at the Environmental & Sustainability Summit in Bucharest.

Education

2006 – National University of Political Studies and Public Administration (SNSPA).
2005 – LL.B, Faculty of Law, University of Bucharest, Romania.
Faculty of Communication and Public Relations.

Practice Areas

ESG Corporate

sectors

Energy & Climate Change

Insights

Global Reach