MPR Partners has advised GreenVolt subsidiaries V-Ridium Solar 45 and V-Ridium Renewables on their EUR 83 million acquisition of a photovoltaic project from the Samsung C&T Corporation. Schoenherr and, reportedly, Herbert Smith Freehills advised the seller. CMS reportedly advised a consortium of banks on financing the acquisition.
The acquired 45-megawatt peak solar photovoltaic project is located in Giurgiu county, Romania. According to Schoenherr, the project started operating in 2013 and has registered a stable electricity generation profile since then.
GreenVolt is a Portugal-based renewable energy producer active in biomass, solar photovoltaic project energy, and decentralized energy generation. The company started its operations in Romania in 2021.
The Samsung C&T Corporation is a multi-business company consisting of four independent business groups: Engineering & Construction, Trading & Investment, Fashion, and Resort. The Trading & Investment group operates in renewable energy, including wind and solar photovoltaic projects, with the aim to meet the global need for energy diversification.
“This purchase marks another step in the growth strategy defined by GreenVolt,” GreenVolt CEO Joao Manso Neto commented. “The Lions park reinforces our generation capacity from renewable sources, opening up a wide range of possibilities for the commercialization of this energy.”
The MPR Partners team was led by Founding Partner Alina Popescu and Partner Dana Radulescu and included Partner Daniel Alexie, Senior Associates Diana Borcean and Flavia Stefura, and Associates Oana Savulescu and Sonia Benga.
The Schoenherr team was led by Local Partner Monica Cojocaru and included Partner Georgiana Badescu, Managing Attorney-at-Law Madalina Mitan, and Senior Attorney-at-Law Simona Lehniuc.