Deals of the year Renewable energy

Romania’s market for mergers & acquisitions (M&A) has remained at around EUR 1 billion in 2013, driven by deals in the banking and renewable sector, although big investors have held back and are carefully planning moves for next year, say deal makers.

By Ovidiu Posirca

Renewable energy

Ecosun Expert opens capital of photovoltaic park in Brasov

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United Media Services study & infographic: 40% of Romanians use AI applications at least weekly

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Value of transaction: Not made public

Legal team, buyer: NNKDP

Legal team, seller: Dentons

French Ecosun Expert, opened capital on a  2.5MW solar installation in Brasov County.

Enel Green Power buys Elcomex Solar Energy

Value of transaction: Not made public

Legal team, buyer: Wolf Theiss

Legal team, seller: Not applicable

Enel Green Power Romania, the renewable arm of Italian utility Enel, fully acquired Romanian Elcomex Solar Energy, which is developing a 9.5MW solar project.

Enel Green Power Romania buys 5MW solar project

Value of transaction: Not made public

Legal team, buyer: Musat & Asociatii

Legal team, seller: PeliFilip

Enel Green Power Romania, the renewable arm of Italian utility Enel, bought a photovoltaic project with a capacity up to 5Mw from several Cyprus-based companies. Enel was operating 36MW of solar capacities in Romania by early December 2013.

Astronergy snaps up 6MW solar farm in Romania

Value of transaction: Not made public

Legal team, buyer: Wolf Theiss

Legal team, seller: Not applicable

Astronergy Solar Netherlands, part of China’s Chint group, entered the Romanian renewable sector after acquiring a solar park. The company took over a solar farm with an installed capacity of 5.98MW developed by ACV Solar Technology in Cluj County.

Est Solar Engineering sets up joint venture with Pressburg Partners for solar investments

Value of transaction: EUR 30 million

Legal team, buyer: Est Solar Engineering assisted by Popovici, Nitu & Asociatii; Pressburg Partners assisted by Wolf Theiss

Legal team, seller: Not applicable

The owners of Est Solar Engineering, a Romanian provider of renewable energy equipment, set up a joint venture with Austria-based Pressburg Partners, an investment fund specialized in the renewable sector, for the development of two solar installations with a total capacity of 20 MW in south-eastern Romania.

Olredo Holding acquires shares in Olrerom Enalfa

Value of transaction: EUR 2.2 million

Legal team, buyer: bpv Grigorescu Stefanica

Legal team, seller: Not made public

Austria’s Olredo Holding, through its Timisoara-based Olredo Rom, purchased all shares held in Olrerom Enalfa by Constructim (a developer of several renewable projects in the field of small hydro and solar) and Lucian Eugen Perescu. Olrerom Enafla had previously acquired the ownership rigs at a solar farm developed by Constructim.

Lukerg purchases 70MW wind farm from Vestas

Value of transaction: around EUR 137.5 million

Legal team, buyer: White & Case

Legal team, seller: Wolf Theiss

Denmark’s Vestas, the wind turbine maker, has sold its Romanian wind project Gebeleisis, with an installed capacity of 70MW, along with a smaller wind farm of 14MW in Bulgaria, to Lukerg Renew. Lukerg is a joint venture between Russia’s oil major Lukoil and Italy’s energy company ERG. The company made its first acquisitions in 2012, when it purchased two wind projects with a combined capacity of 192MW in Romania.

Energreen Investment Europe makes local solar acquisitions

Value of transaction: Not made public

Legal team, buyer: Schoenherr

Legal team, seller: local legal advisor Florin Popovici

Luxembourg-based investment fund Energreen Investment has acquired a 17MW photovoltaic park in central Romania. Energreen has projects in Italy and Romania, but is also targeting the US, South America and Asia. The company operates some 20MW of photovoltaic parks in Italy.

Samsung C&T Corporation buys photovoltaic park

Value of transaction: Not made public

Legal team, buyer: Schoenherr

Legal team, seller: CMS Reich-Rohrwig Hainz Rechtsanwälte

Samsung C&T Corporation and Samsung C&T Deutschland acquired a 45MW solar project in southern Romania and completed the solar installation following a EUR 100 million investment.

Eximprod Group sells 75MW of solar plants

Value of transaction: Not made public

Legal team, buyer: Musat & Asociatii

Legal team, seller: PeliFilip

Romania’s Eximprod Group, a producer and distributor of power equipment, sold several photovoltaic projects with a combined capacity of 75MW to various investors in the field.

Mineral Oil buys small hydro plants from Hidroelectrica

Value of transaction: Not made public

Legal team, buyer: Zamfirescu Racoti & Partners

Legal team, seller: Internal advisers
Romania’s Hidroelectrica, the state-owned hydroelectricity producer, raised EUR 10.6 million from selling 14 small hydro power plants with a combined installed capacity of 9.4MW. Italian company Basikdue snapped up four plants, while Romania-based Mineral Oil and Three Pharm acquired three and seven plants, respectively.

Aquaenergy gains control of Safoma Energy

Value of transaction: Not made public

Legal team, buyer: Hammond Bogaru & Associates

Legal team, seller: Not made public

Aquaenergy, an energy company based in the Czech Republic which focuses on the construction and operation of small hydro power plants, took over local firm Safoma Energy to develop hydro power projects in northern Romania.

Strub and Finath acquire local solar project

Value of transaction: Not made public

Legal team, buyer: NNDKP

Legal team, seller: Dentons

Strub, a French company specialized, among other areas, in the sale of electricity and development of renewable projects, and Finath, a French company active in the production and sale of solar energy, acquired a solar project in Romania. Strub also owns Voltec, a producer of solar panels.