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D&B David si Baias Advises Complexul Energetic Oltenia on Eight PV Projects and New Gas Power Plant with OMV Petrom and Tinmar Energy

D&B David si Baias Advises Complexul Energetic Oltenia on Eight PV Projects and New Gas Power Plant with OMV Petrom and Tinmar Energy

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PwC Legal Romanian affiliate D&B David si Baias has advised Complexul Energetic Oltenia on selecting the investor-partners for its 1.2-gigawatt decarbonization strategy. Nestor Nestor Diculescu Kingston Petersen reportedly advised OMV Petrom on the partnership for four PV projects. Deloitte Legal affiliate Reff & Associates reportedly advised Tinmar Energy on the partnership for a new gas-fired power plant and four PV parks.

According to D&B, CE Oltenia will build four photovoltaic parks with a total power of approximately 450 megawatts in partnership with OMV Petrom, with investments exceeding EUR 400 million. The other investments, together with Tinmar Energy, will include four photovoltaic parks with a total installed power of 285 megawatts and a 475-megawatt combined-cycle gas-fired power plant in Turceni, for approximately EUR 595 million.

The photovoltaic parks benefit from a 70% financing from the Modernization Fund, and the percentage of financing for the combined-cycle power plant is 50%, the firm announced. Each project will be developed through a separate legal entity, in a 50/50 participation structure between CE Oltenia and OMV Petrom or Tinmar Energy, respectively.

Complexul Energetic Oltenia is a majority state-owned Romanian power producer with 2.3 gigawatts of primarily coal-fired installed capacity.

The D&B David si Baias team included Partner Anda Rojanschi and Senior Lawyers Mihaela Papandreia and Sonia Voinescu.

Editor's Note: After this article was published, NNDKP confirmed it had advised OMV Petrom on the four PV park joint-venture agreements. According to the firm, the parks' total 455-megawatt capacity will be used to replace coal-based conventional energy generation with green energy. The NNDKP team was led by Partner Ruxandra Bologa and included Partners Roxana Ionescu, Anca Diaconu, and Lavinia Ionita-Rasmussen.

NNDKP at a Glance

Nestor Nestor Diculescu Kingston Petersen (NNDKP) is a promoter of business law in Romania with more than 30 years of experience, independently acknowledged as a pioneer of the Romanian legal market.

NNDKP offers full-service and integrated legal and tax advice to companies from diverse industry sectors. For the past three decades, NNDKP lawyers have assisted corporations, financial institutions, private equity funds and local entrepreneurs in landmark deals and projects in Romania, contributing to the evolution of the Romanian business environment, including in innovative and niche economic sectors.

NNDKP’s team brings together knowledgeable, talented and dedicated lawyers and tax advisors active in Romania, with an impressive track record that reflects a mix of industry insights, courtroom experience and practical business sense. Over 120 lawyers & tax & IP counsellors and 50+ business support professionals form one of the largest and most respected teams of independent professional services providers in Romania. We are on the ground where needed, working either from our headquarters in Bucharest or from our regional offices in Timisoara and Cluj-Napoca – major cities and important economic, academic and social hubs in Romania.

NNDKP provides assistance in virtually all areas of practice including Advertising, Banking & Finance, Capital Markets, Competition and State Aid, Consumer Protection, Corporate / M&A and Commercial, Data Protection, Dispute Resolution, Employment, Energy and Natural Resources, Environment, EU Law, Gaming, Immigration, Insurance and Private Pensions, Intellectual Property, Pharmaceuticals and Healthcare, Infrastructure, Public Procurement and PPP, Real Estate and Construction, Tax and Telecommunications and Media.

Along the years NNDKP has established strong connections with leading international law firms and high-profile professional networks. NNDKP represents Romania in the prestigious international professional alliances Lex Mundi, World Services Group, International Attorneys Club and is a founding member of SEE Legal.

The firm is constantly top ranked in all practice areas by the renowned international guides Chambers & Partners, Legal500 and IFLR 1000. NNDKP is a 6-time winner of the much-coveted “Romania Law Firm of the Year” award at the Chambers Europe Awards gala, in 2022, 2021, 2017, 2013, 2012 and 2009.

Firm’s website: www.nndkp.ro