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).
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About CMS
Founded in 1999, CMS is an integrated, multi-jurisdictional organisation of law firms that offers full-service legal and tax advice. With more than 80 offices across more than 45 countries and more than 5,800 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets.
The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate / M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment & Pensions, Intellectual Property and Real Estate.
For more information, please visit cms.law