CMS facilitates financing for Comcris Energy's solar project in Sărmășag Romania

International law firm CMS has advised UniCredit Bank SA, on the EUR39.3m financing for Comcris Energy S.R.L, a subsidiary of Enery group, for the construction of a solar ground-mounted photovoltaic project located in Sarmasag, Romania. The project boasts a total capacity of approximately 51.4MW.

The CMS team assisted UniCredit Bank SA with the English and Romanian law aspects of the financing, with support covering structuring, negotiations, closing, and post-closing matters.

Ana Radnev, Banking & Finance Partner at CMS, comments: "Our team showcased its energy and project finance expertise and we are pleased to have played a pivotal role in the financing, reaffirming our commitment to supporting clients on their renewable energy projects.”

Andreea Turcu, Senior Associate in the Banking & Finance team at CMS, adds: "We are proud to have assisted UniCredit Bank SA on this important transaction. Romania's commitment to increase its installed solar energy capacity and the aim to have over eight gigawatts in photovoltaic renewable energy production units installed by 2030 signals a promising trend and we anticipate a significant increase in such financings in the future. Leveraging our extensive sector expertise across Europe, CMS is well positioned to advise clients in this dynamic area."

The multidisciplinary CMS team was led by partner Ana Radnev with support from Andreea Turcu and Andreea Bianca Radu (Banking & Finance) and the wider team that included Roxana Fratila, Alex Dumitrescu, and Bianca Bănățeanu (Real Estate) and Raluca Diaconeasa (Energy).

Founded in 2019, Enery has quickly become one of the leading renewable energy developers in Central and Eastern Europe. Enery is leading the green energy transition through the acquisition, development, construction, and operation of large-scale renewable energy plants. With a sustainable long-term vision, it delivers clean electricity at affordable prices to create a more sustainable energy landscape.