Yesterday evening, CEZ Group and Continental Wind Partners LLC (CWP) concluded the sale of CWP’s adjacent Fantanele and Cogealac wind farms in Romania. The two projects will be the largest onshore wind farm in Europe with a total capacity of 600 megawatts, approximately double the size of the next largest fully permitted onshore wind farm in Europe, and triple the size of the largest current operational wind farm in Europe.
Ţuca Zbârcea & Asociaţii fielded a team of 10 lawyers led by Sorin Vlădescu, Partner. The team also included Irina Moinescu, Managing Associate and Mihaela Alexandrescu, Senior Associate.
„It was a very interesting transaction, especially considering it is CEZ's first acquisition project of this kind in Romania. For the past 4 months, we have assisted the client in connection with all legal matters entailed by the acquisition procedure, and we shall continue to advise CEZ on the post-closing matters and on the development of the project”, said Sorin Vlădescu.
The total investment of CEZ Group into the project will reach EUR 1.1 billion. The wind farm will represent almost 30% of the renewable market in Romania (including large hydro) when it becomes fully operational.