€28mn Financing for Iancu Jianu PV Project in Olt County

Econergy Renewable Energy, through its subsidiary Econergy UK, has secured €28 million in financing from Kommunalkredit Austria for the Iancu Jianu photovoltaic (PV) project in Olt County, Romania. The project, currently under construction, has an installed capacity of 58 MW and is expected to connect to the grid in 2025.

Kommunalkredit Austria is a leading financial institution specializing in infrastructure and renewable energy projects and is recognized for its commitment to facilitating sustainable investments and supporting the transition to a low-carbon economy.

Vlasceanu & Partners supported Econergy in securing this financing from Kommunalkredit Austria for the completion of the solar park in Olt County.

Vlasceanu & Partners significant contribution included:

• Conducting the due diligence report for this financing
• Providing full legal assistance for the negotiation and signing of all financing documents
• Fulfilling the necessary closing conditions, ensuring the transaction’s successful completion.

This achievement was made possible by the outstanding efforts of a dedicated legal team, led by two of the law firm partners, Loredana Vlasceanu, on the Financing side, supported, by Mihaela Farin, Managing Associate and Flavius Asaftei, Senior Associate, and Raluca Spinu, managing the due diligence exercise, supported by Stefania-Gabriela David, Senior Associate.

“Econergy continues to lead the PV sector in Romania, operating projects with a total capacity of around 250 MW, including the Ratesti project – the largest solar project in operation in the country,” Econergy said in a statement.

Econergy is a sustainability and renewable energy company working across the United States.

They facilitate the transition to green energy, resulting in increased cost savings through the buying power that is uniquely enabled by the development of renewable assets. The company strives for more stable budgets, increased options and unique programs designed to provide maximum benefits to customers and partners.

Vlasceanu & Partners offers highly specialized legal services in areas including energy law, financing and banking, real estate and urbanism, corporate and commercial law, M&A and private equity, employment law, EU funding and public procurement, competition. The firm takes pride in having the largest energy-focused legal team currently available in the Romanian market. Their team consists of young, dynamic professionals, the majority of whom have received foreign education and possess a practical, results-oriented mindset.