During October this year, after obtaining the Zoning Urban Plan and the Technical Approval for Connection, the project was acquired by Econergy International Ltd, and the EnPower Energy team will continue the coordination until the construction permit is obtained and the project is commissioned. Econergy International Ltd is a large Israeli investor and this acquisition is part of its expansion strategy in Romania, where it owns projects with a combined capacity of 1.5 GW. The company is part of Econergy Renewable Energy Ltd, based in Israel, with operations in Romania, Italy, Greece, Poland, Spain and the UK.
Joining the seller in this transaction is the law firm MPR|Partners. The team dedicated to the development and sale was led by founding partner Gelu Maravela and partner Dana Rădulescu and consisted of 8 lawyers. The assistance provided at both stages (development and sale) consisted of structuring the development, assistance in negotiating and drafting relevant documents and assistance in the overall project development process at all stages. There were also numerous corporate, project development, real estate law and various types of permitting issues (in relation to environmental, real estate and energy issues).