The milestone project marks BIG Mega Renewable Energy's first renewable investment in Romania, with the signing of the financing agreement highlighted as a crucial milestone for the company's expansion strategy in Romania and the Balkans. The Urleasca wind farm is expected to make a significant contribution to Romania's renewable energy goals, with generation capacity of 292 GWh per year.
The financial closing is expected mid-2024.
Kinstellar's assistance on the financing was coordinated by Magdalena Răducanu (Special Counsel, Co-head of the firm-wide banking service line) and included Răzvan Constantinescu (Managing Associate) and Horațiu Crețu (Junior Associate).
Kinstellar has been advising BIG Mega Renewable Energy on all of their renewable energy projects in Romania since entering the market and from the early development stages. All energy-related matters, including transactional, development and regulatory aspects, were coordinated by Iustinian Captariu (Partner, Head of the firm-wide Energy sector) with the support of Cătălin Graure (Counsel), Mădălina Perțe (Managing Associate), Ioana Criste (Senior Associate), Dana Sârbu (Associate), Ioana Popescu (Associate), while the real estate aspects were coordinated by Cătălin Dinu (Counsel) with the assistance of Diana Istov and Corina Stanciu (Senior Associates).
Magdalena Răducanu added: “Congratulations to all parties involved for the great work performed! Banking stands as a traditional cornerstone of our office's expertise, with renewable energy financings becoming more and more prominent in our workload. We have extensive experience handling cross-practice mandates and are happy to have teamed up, once again, with our energy team, adding this financing to our strong track record.”
Iustinian Captariu highlighted: “Congratulations to our client! We are very honoured we have assisted them on this project from its initial development stages until now. This mandate required our teams' combined efforts and specialised advice in multiple key areas. We are confident that our expertise in the renewable energy field is second to none in Romania — in the past few years alone, our office has advised on projects with a pipeline of more than 4,000 MW, representative of our country's investments in the energy transition.”
