Wolf Theiss acted as legal advisor to ENERCON GmbH in relation to the sale of its operational 34.5 MW wind park to Premier Energy Plc.
ENERCON GmbH, the largest German manufacturer of wind turbines has successfully closed the sale of 100% of the shares held in Ecoenergia SRL, a Romanian company operating a wind farm with a capacity of 34.5 MW, delivered by 15 wind turbines.
Wolf Theiss’ Corporate/M&A team, headed by Partner Ileana Glodeanu, provided transactional legal assistance to ENERCON group, which included drafting and negotiating a complex sale purchase agreement governed by Romanian law, preparing vendor legal due diligence reports and rendering general legal support during the competitive sale process. The deal got signed on 17 December 2021 and obtained merger clearance from the Romanian Competition Council in early January 2022.
In addition to Partner Ileana Glodeanu, the lawyers who have superbly assisted on the deal were Mircea Ciocîrlea (Counsel, Corporate M&A), Flaviu Nanu (Counsel, Real Estate and Projects), Adina Aurel (Senior Associate, Energy and Natural Resources), Anca Jurcovan (Partner, Competition), Maria Ionescu (Associate, Competition) and Iulia Cumparatu (Associate, Corporate M&A).
Wolf Theiss Romania continues to successfully land renewable deals, our lawyers having extensive experience in assisting and completing both sell-side and buy-side transactions in the energy sector, signing for example 3 renewable deals just in December 2021. Wolf Theiss has a long collaboration history with ENERCON group.
“Our lawyers at Wolf Theiss have been of remarkable support in this transaction. They accompanied us professionally in the bidding and sales process including the contract negotiation. Therefore, we were able to achieve the swift signing and closing of the deal”. said Mr. Meinhard Stelte, Senior Consultant, UEE Holding SE & Co. KG, the holding company of ENERCON group.
“We are very pleased to have been involved in yet another success story representing our long-term client, ENERCON. The sale process was extremely competitive, this operational 34.5MW wind park generating a lot of interest, with all offers being carefully weighted both from a commercial and legal point of view and from the perspective of the speed of completion of the transaction. I could not be prouder of our Wolf Theiss M&A and energy experts who have been extremely busy in 2021 and managed to complete so many deals in the energy industry, as well as in other hot sectors such as TMT and healthcare” stated Ileana Glodeanu, Partner and Head of the Corporate / M&A practice in the Wolf Theiss Bucharest office, on the transaction.
As a pioneer of wind energy technology and a partner of the energy transition, ENERCON has specialised in the development, production, sales and servicing of onshore wind energy converters. Pursuing its mission of ‘Energy for the world’, the company has been driving sustainable energy generation from onshore wind since 1984. Thanks to its innovative wind energy converter technology, high quality standards and a total installed power of 56.74 gigawatts (31,325 WECs in total as at 12/2021), it is one of the leading manufacturers worldwide. Around 14,000 people work at administrative, sales, production and service locations worldwide for the wind energy converter manufacturer with headquarters in the Lower Saxon town of Aurich.