Kinstellar has advised BIG Mega Renewable Energy on a EUR 92 million financing agreement with the European Bank for Reconstruction and Development and OTP Bank to build and operate the 102-megawatt Urleasca wind farm in Braila county, Romania. Clifford Chance reportedly advised the banks.
BIG Mega Renewable Energy is an Israeli renewable sources energy company.
According to Kinstellar, "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 a generation capacity of 292 gigawatt-hours per year."
The Kinstellar team included Partner Iustinian Captariu, Special Counsel Magdalena Raducanu, Counsels Catalin Graure and Catalin Dinu, Managing Associates Razvan Constantinescu and Madalina Perte, Senior Associates Ioana Criste, Diana Istov, and Corina Stanciu, Associates Dana Sarbu and Ioana Popescu, and Junior Associate Horatiu Cretu.
Editor's Note: After this article was published, Clifford Chance announced that it advised the EBRD and OTP Bank on the financing. The firm's team included Bucharest Managing Partner Daniel Badea, Partner Jared Grubb, Counsels Andreea Sisman and Cosmin Anghel, Senior Associate Gabriel Toma, and Lawyer Martha Busuiocescu. According to Clifford Chance, "Urleasca Wind Farm SRL, the project company, is ultimately equally co-owned by BIG Shopping Centers ltd and MEGA OR ltd, two Israeli companies that own and develop shopping malls and are listed on the Tel Aviv stock exchange."
