Dentons advises Kommunalkredit on the €30.25 million financing of solar projects

The financing project was a multi-jurisdictional effort, that brought together key stakeholders and advisers from Austria, Germany, Bulgaria and Romania, requiring the negotiation and finalization of a complex set of security instruments, project documentation, and a cross-border due diligence.Upon completion, the Helios I Arad PV Park is set to become the largest east-west-oriented solar power generation complex in Eastern Europe, significantly contributing to the region’s renewable energy capacity. Strategically located near the former CET Arad coal-fired power plant, the PV arrays will be installed across a 68-hectare site, repurposing an area that previously served as the coal-fired power plant's ash disposal facility.

Unigea Solar Projects Romania acquired the PV project in its ready-to-build phase in early 2024 and commenced the construction of a new substation in mid-2024. In the coming months, it will focus on the construction of the 85 MW park, with commercial operations scheduled to begin in Q1/2026.

Banking and Finance partner Simona Marin led the legal team, assisted by counsel Sandra Constantin and associate Cristina Staicu(all Banking and Finance), partner Claudiu Munteanu-Jipescu, senior associate Angelica Pintilie and associate Alin Dimache (all Energy), partner Bogdan Papandopol, counsel Luiza Onofrei and associate Diana Ceparu (all Real Estate).

Unigea Solar Projects Romania S.A. is a key subsidiary of the German-based Unigea Solar Projects GmbH, headquartered in Berlin, and a specialized project development company focused on large utility scale photovoltaic projects and battery energy storage systems with a regional focus on Germany, Bulgaria, Romania and Austria.

Kommunalkredit specializes in financing and advising forward-looking infrastructure projects throughout Europe.