Bondoc și Asociații SCA advised Banca Comercială Română, BRD – Groupe Societe Generale, Deutsche Bank, Erste Group Bank, Societe Generale, Eurobank and Piraeus Bank in connection with the approximately EUR 510 million financing of the 392 MW Peștera II onshore wind project, located in Constanța County, Romania. The transaction represents one of the most significant renewable energy infrastructure investments in Romania and one of the largest project finance transactions in Central and Eastern Europe.
In 2024, the Peștera II project secured a 15-year Contract for Difference (CfD) under Romania’s newly implemented state support scheme. Commercial operations are expected to commence in 2028, with the project set to make a significant contribution to Romania’s energy security. The project also marks the entry of Copenhagen Infrastructure Partners (CIP), one of the world’s leading investors specializing in renewable energy infrastructure, into the Romanian market.
Bondoc și Asociații advised the financing banks on all relevant aspects of Romanian law relating to the transaction, including the structuring of the financing, the preparation and negotiation of the financing and security documentation, as well as all Romanian law matters specific to a complex project finance transaction. The firm also advised on the implications of the Contracts for Difference (CfD) mechanism and the key regulatory aspects relevant to the development and financing of the project.
The transaction was led by partners Simona Petrișor, together with Diana Ispas and Monica Iancu, with the support of a multidisciplinary team of lawyers specializing in banking and finance, energy and infrastructure projects, comprising partners Cosmin Stăvaru and Viorel Dinu and attorneys Florin Sandu, Silviu Vasiliu, Cristina Palade, Ionel Macovei, Matei Vîlcov, Vasile Soltan, Monica Gheorghe, Raluca Catargiu, Andrei Prună and Yasmina Macovei.
English law advice was provided by the international law firm White & Case LLP, led by partner Jonathan Weinberg.
Bondoc și Asociații’s Banking & Finance team regularly advises on many of the most significant project financings and energy sector transactions in Romania, including the development of major renewable energy projects, syndicated financings, complex project finance transactions and the implementation of new support mechanisms for green energy investments, contributing to some of the most important energy infrastructure projects.