Țuca Zbârcea & Asociații | PRACTICE AREAS

Electricity & Natural Gas

Ţuca Zbârcea & Asociaţii provides legal assistance and advice in the field of electricity (from renewable sources, nuclear power, or from conventional sources) and natural gas. 

The Romanian electricity and natural gas sectors have undergone significant changes over the past two decades, involving the privatisation of the main operators and the implementation of EU guidelines and strategies designed to harmonise the Romanian legal and regulatory environment with that of the EU, as well as complete market liberalisation.

Our Services

advising purchasers/sellers involved in acquisition processes targeting companies operating in the energy field. Services provided in these projects include: preparing the legal due diligence report on the target company (mainly from the perspective of energy, real estate, corporate and commercial, environmental law), legal opinions and general legal advice concerning relevant legal issues and risks identified in connection with the activity of target companies, transaction structuring, drafting, negotiating and signing transaction documents, legal advice on transfer-related authorisation formalities from the perspective of energy and environmental regulations, approval of economic concentrations, legal advice on the fulfilment of the conditions precedent and closing the transaction.
drafting, negotiating, amending various types of contracts specific to the energy field, as well as reviewing compliance thereof with the legal requirements, e.g. concession contracts for the electricity distribution public service, electricity or gas sale/supply contracts, contracts for various industry-specific services, etc.
legal assistance to companies or professional associations in the energy field for the drawing-up and implementation of the relevant legal framework during the public consultation process, legal assistance throughout the related procedures.
advising on acquisition financing or financing for project development in the energy field; from the perspective of energy regulations, the legal advice mainly consists in identifying the critical legal aspects and the remedies for eliminating or mitigating the identified risks, as well as assistance for receiving the necessary permits and approvals under the law.
surveys of the EU and national regulatory environment in order to assess legal compliance of the clients’ business with the applicable laws or the consequences of the rapidly changing regulations, analysis of potential risks ensuing from activities in the energy sector and of the applicable remedies, advising on the drawing up and filing of the required documentation for the necessary permits, licenses and approvals etc.

Client Highlights

Czech-based energy group: legal assistance in relation to Romanian law matters concerning the divestment of a portfolio of power assets (seven companies, including electricity distribution networks, energy supply and the Fântânele Cogealac wind park, among others) to a consortium led by an Australian fund. According to media reports, the transaction stands out as the largest deal in Romania since 2008.
Subsidiary of a gas transmission operator: assistance in relation to the acquisition of Vestmoldtransgaz, one of the licensed natural gas transmission operator in the Republic of Moldova, which further to the acquisition built the Ungheni-Chișinău gas pipeline, a strategic project for the Republic of Moldova. Romanian company in the field of electricity distribution and supply: legal assistance related to the acquisition from Monsson Group of two photovoltaic parks in Satu Mare area and one wind farm in Dobrogea having an aggregate capacity of 207 MW.
Romanian subsidiary of a leading French-based energy group: assistance in relation to the acquisition of two operating photovoltaic parks and of the related business.
Large nuclear power company: legal assistance in connection with a project launched by Nuclearelectrica for the development, construction and operation of Units 3 and 4 Cernavodă. The project had been estimated at EUR 7.2 billion.
Czech-based energy group: legal assistance on post-privatisation issues related to its subsidiary, Electrica Oltenia SA, including legal advice for implementing the unbundling process, in accordance with domestic and EU regulations in the area of energy law, as well as assistance for the extension of the privatisation agreement to the newly created supply company.
Romanian public authority: assistance in the implementation of the first LNG (liquefied natural gas) project in Romania, designated as the Azerbaijan-Georgia-Romania Interconnector (AGRI), a project worth between EUR 1.2 and 4.5 billion, depending on the final capacity.
Japan-based energy group: assistance in relation to a EUR 1 billion IPP Joint-Venture project for the construction of a new 500 MW coal-fired power plant at the Rovinari Power Plant in Romania, a State-owned company.
Subsidiary of the gas transmission operator: legal assistance concerning the award by Vestmoldtransgaz of a EUR 68 million works contract for the execution of the pipeline interconnecting Romania’s Gas Transmission System with Moldova’s Gas Transmission System, Phase II, for the Iași – Ungheni – Chișinău section.
Hungarian-based gas sales and trading company, a unit of Hungarian gas and oil company: assistance on all legal and regulatory matters concerning the negotiation and conclusion of a long-term capacity transfer agreement between the company and Transgaz, as well as assistance in connection with the preparation of a framework gas supply agreement to be used in relation to its consumers/suppliers.
Romanian subsidiary of a Swiss based energy group: assistance in the negotiation and signing with EDP Renewables Romania of a power purchase agreement for the purpose of balancing the electricity transmission system – the first renewable energy balancing agreement ever concluded in Romania. Moreover, the legal team advised on the implementation of innovating business models on the electricity and green certificates market.
European bank: advising on the implementation of energy performance contracts (EnPCs) in the Romanian public sector and with respect to the opening of the Romanian market of EnPCs for energy service companies (ESCOs), as part of “Energy Efficiency in the Public Sector” Program, including drafting a model EnPC to be concluded between the local public authorities, on one hand, and the ESCOs, on the other hand, as well as drafting the relevant public procurement documentation and assisting the municipalities in launching the tenders for the award of the EnPCs.
Hungarian-based gas sales and trading company, a unit of Hungarian gas and oil company: assistance on regulatory matters relevant for the client’s activities in Romania, as well as assistance in connection with the issuance of a new gas supply license by the Romanian energy regulatory authority (ANRE).
Subsidiary of the gas transmission operator: legal assistance in a complex deal aimed at the European Bank for Reconstruction and Development becoming a minority shareholder in Vestmoldtransgaz, with a EUR 20 million investment, via a share capital increase (subscription agreement, option agreement, shareholders’ agreement).
Czech-based energy group: assistance, in the context of public consultations, in relation to the contemplated amendment of Law No. 220/2008 for establishing the promotion system for producing energy from renewable energy sources, as well as of the Energy and Natural Gas Law No. 123/2012.

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