Bondoc și Asociații SCA have advised a club of eight commercial banks and international financial institutions in connection with the up-to-€331 million financing of the second phase of the 269MW Vifor wind farm, located in Romania.
The project is developed by Rezolv Energy, an independent renewable energy producer backed by Actis, a leading global investor in sustainable infrastructure. This financing marks the continuation of the Vifor wind farm’s development, following the successful financial close of its initial phase in 2024. Once fully operational, the Vifor project will rank among the largest onshore wind farms in Europe, providing clean electricity to over 700,000 households.
Bondoc și Asociații have advised on all Romanian law matters, assisting with the structuring, preparation and negotiation of the contractual documentation for this strategic deal, with significant input in connection with the offtake which in this phase will be via the new Romanian CfD programme, a precedent for the Romanian market. The team was led by partners Simona Petrișor, Diana Ispas and Monica Iancu, with support from partner Cosmin Stăvaru and lawyers Florin Sandu, Silviu Vasiliu, Matei Vîlcov, Raluca Catargiu, Oana Dănilă, Ionel Macovei, Yasmina Macovei, Andrei Prună, Vasile Soltan, Rareș Iacob and Cristina Palade.
The English law counsel was global law firm White & Case LLP.
The Banking & Finance team of Bondoc și Asociații regularly advises clients on a broad spectrum of corporate finance mandates, providing strategic legal counsel on complex, high-value transactions, such as: (i) assistance to a syndicate of (local and foreign) banks in connection with all relevant Romanian legal matters concerning the development, construction, and operation of a late-stage utility scale (400 MW) onshore wind project; (ii) assistance to RetuRO Sistem Garanție Returnare, the sole administrator of the Romanian deposit-return system (DRS), in connection with the accessing of a RON 426 million (approx. EUR 85.7 million) green financing to support investments in the technical infrastructure necessary for the implementation of the DRS; (iii) assistance to a bank syndicate in connection with the EUR 425,000,000 term and revolving facilities agreement subsequently increased entered into between, inter alios, All4Labels Management GmbH; (iv) assistance to a banking syndicate in connection with a EUR 185 million reserve-based financing of an offshore gas drilling and gas treatment facility in Romania (a precedent setting transaction – the first offshore reserve-based financing transaction on the Romanian market) and (v) assistance to a group of companies acting in the electricity sector in connection with the project financing by a Romanian credit institution of the development of a wind farm of 38 MW.