Clifford Chance advised Actis on launch of portfolio business
Clifford Chance advised Actis on launch of portfolio business
Clifford Chance acted as the legal advisor for Actis, a leading global investor in sustainable infrastructure, on the launch of its portfolio business Rezolv Energy, an independent clean energy, power producer into Central and South Eastern Europe. In pursuant to this launch, Resolve Energy acquired majority interest in the Vis Viva onshore wind project in Romania from UK-based investment company Low Carbon.
With this, Rezolv aims to build a multi-gigawatt portfolio of wind, solar and energy storage projects. This will help companies and countries across the region meet their energy needs in response to energy security challenges and climate policies. It will take renewable energy projects from late-stage development through construction and into long-term operation.
Partnering with Low Carbon, Rezolv is to complete the acquisition of a 51 percent interest in the 450MW Vis Viva onshore wind project in Buzau County, Romania. Once operational, Vis Viva will be one of the largest onshore wind farms anywhere in Europe, with the capacity to generate sufficient clean energy to power more than 272,000 homes and avoid approximately 180,000 tonnes of CO2e each year. It will play a major role in accelerating the transition away from fossil fuels in Romania, whilst providing long-term, stably priced electricity to commercial and industrial consumers across the region.
This is a landmark clean energy transaction for the region demonstrating Clifford Chance's ability to combine our market-leading position as advisor to global investors in renewable energy platforms and our local expertise as the only leading international law firm with a fully integrated office in Romania.
The cross-border Clifford Chance team was led by London clean energy M&A partners Nicholas Hughes and Jonathan Dillon alongside Nadia Badea (Partner, Bucharest) and Loredana Ralea (Counsel, Bucharest) with support from Alex Bouwman (Senior Associate, London), Alexandra Voicu (Senior Associate, Bucharest), Lavinia Dinoci (Senior Associate, Bucharest), Ecaterina Burlacu (Senior Associate, Bucharest), Andrei Caloian (Senior Associate, Bucharest), Carmen Buzenche (Lawyer, Bucharest), Michal Jašek (Counsel, Prague) and Tomáš Procházka (Associate, Prague).
