On November 21, 2024, Clifford Chance announced that PPC Group's acquisition of Evryo Group's Romanian RES portfolio (as reported by CEE Legal Matters on August 9, 2024) has now closed.
As previously reported, Clifford Chance advised PPC Group on its acquisition of Evryo Group's renewable energy portfolio in Romania, including 629 megawatts of renewable energy sources in operation and 145 megawatts in pipeline assets. RTPR and, reportedly, Jones Day advised Evryo on the deal.
According to RTPR, the transaction includes the Evryo Wind Farm, Romania’s largest operational onshore wind farm, with a total installed capacity of 600 megawatts, and the group’s hydropower system comprising four hydroelectric plants and associated hydro facilities, with a total installed capacity of approximately 22 megawatts.
PPC is a Southeast European electric utility, with activities in electricity generation, distribution, and sale of advanced energy products and services in Greece, Romania, and North Macedonia. It is the largest power supplier in Greece and Romania, servicing 8.8 million customers in total, providing them with approximately 33 terawatt-hours of energy.
Evryo Group is owned by Macquarie Asset Management. According to Clifford Chance, the total enterprise value of the deal is approximately EUR 700 million.
The Clifford Chance team was coordinated by Bucharest-based Partner Nadia Badea and Counsel Loredana Ralea and included Of Counsel Eleonora Udroiu, Senior Associates Radu Costin, Lavinia Dinoci, Carmen Buzenche, Diana Borcean, and Ecaterina Burlacu, and Associates Nicolae Grasu, Roxana Barboi, and Filip Marinau, as well as Munich-based Partner Alex Cook.
The RTPR team was coordinated by Partner Roxana Ionescu and Senior Associate Cezara Urzica and included Partner Cosmin Tilea, Senior Associates Marina Fecheta-Giurgica and Andreea Nedeloiu, Associates Serban Halmagean, Flavia Mincu, and Livia Tuca, and Junior Associates Andrei Nicolae, George Capota, Irina Marinescu, Maria Luca, Radu Ciolacu, Daria Spatariu, David Mirea, and Luka Perovic.
