Kinstellar has successfully assisted the leading renewable energy developer BIG Mega Renewable Energy on an approximately EUR 100 million project financing with a syndicate of lenders for the construction and operation of the Vacareni wind farm located in Tulcea County, Romania.
The financing will support the development, construction, and long-term operation of 17 wind turbines. With a total installed capacity of 102 MW, the Vacareni wind farm represents another significant milestone in BIG Mega Renewable Energy’s commitment to advancing Romania’s transition to clean and sustainable energy.
The syndicate of lenders comprised Erste Group Bank, Banca Comerciala Romana, Banca Comerciala Intesa Sanpaolo Romania, and Všeobecná úverová banka, acting as original lenders, with Erste Group Bank acting as Facility Agent and Banca Comerciala Romana acting as Security Agent.
Kinstellar’s banking and finance team was led by Magdalena Raducanu (Partner, Co-Head of the firm-wide Banking & Finance service line) and Razvan Constantinescu (Managing Associate), with support from Daria Buhus (Associate) and Ioana Moldoveanu (Junior Associate).
Kinstellar has been advising BIG Mega Renewable Energy on its renewable energy projects in Romania since the client’s market entry and from the early development stages, including the previous financing for the development and operation of the Urleasca wind farm.
All energy-related matters, including transactional, development, and regulatory aspects, were coordinated by Iustinian Captariu (Office Managing Partner and Head of the firm-wide Energy sector), with support from Catalin Dinu (Counsel, Real Estate and Energy), Cosmin Vasilescu (Senior Associate, Corporate), Ioana Criste (Senior Associate, Energy), and Dana Sarbu (Associate, Environmental).
“The Vacareni financing follows the earlier successful closing of the Urleasca wind farm and reflects a consistent, disciplined approach to developing and financing large-scale renewable energy projects. These transactions are the result of long-term planning, strong partnerships, and teams that know how to execute in complex environments.” – Tomer Nir, VP, Head of Europe, BIG MEGA Renewable Energy
“Congratulations to BIG Mega Renewable Energy and the lending syndicate on the successful signing of this new landmark financing! Project financing with focus on renewables remain a core strength of our Banking & Finance practice, and this transaction reflects the continued growth of our expertise in large-scale energy projects.” – Magdalena Raducanu, Partner, Co-head of the firm-wide Banking & Finance service line
“This project represents a significant addition to Romania’s expanding renewable energy capacity, and we are proud to have supported BIG Mega Renewable Energy on another key investment in its Romanian portfolio. The mandate required closely coordinated, multi-practice advice; transactions of this kind continue to reinforce our position as a leading legal advisor in Romania’s energy sector.” – Iustinian Captariu, Office Managing Partner, Head of the firm-wide Energy sector