Muşat & Asociaţii attorneys shared their professional experience by participating in the “Renewable Energy in Romania” recent debate, which put forward issues such as: the investment context for the development of the renewable energy market, the available incentive mechanism, the legal framework in the wind energy sector, as well as the available funding sources.
“Although renewable energy is, at the time, the leading topic for investors, so far, no project managed to access the public funds, in any of the forms provided by law, due to the lack of secondary legislation, necessary guides and methodological norms”, stated Miruna Suciu, Partner with Muşat & Asociaţii, during her presentation, in reference to the available financial subsidies for the renewable energy private projects.
Around 200 million Euros are available for renewable energy projects during the period 2008-2013, out of which 169.7 million represent non-refundable EU funds granted via the European Regional Development Fund, and 30.3 million Euros represent public co-financing funds ensured from the state budget (according to GD 750/2008). Additional funds can be accessed through the agency of the Ministry of Environment (approved by Order No. 1342/15.10.2009), estimated at over EUR 100 million.
„This delay in accessing already available funds “costs” us rather dearly, both from the economic standpoint, and also as regards development opportunities, which we either miss or delay. We shouldn’t afford such luxury in times of economic downturn”, believes Miruna Suciu. “In order to be in line with the EU provisions on energy efficiency, we must accelerate the accession process of such funds”. Representatives of Transelectrica, ANRE, Ministry of Economy, World Bank and Roland Berger also expressed their views on similar matters of interests during the conference.
Musat & Asociatii’s energy expertise is placed at the top of the rankings provided in the latest editions of the reputed legal guides, Chambers Europe and Legal 500. Also, the prestigious legal guide PLC Which Lawyer? highly recommends Muşat & Asociatii’s expertise in this area of practice.
The firm’s long-standing energy expertise includes numerous high-profile projects such as the EUR 820 million acquisition of Electrica Muntenia Sud by Enel, the EUR 1.2 billion Termoelectrica’s debt restructuring, the development of Unit 3 and 4 of the Cernavoda Nuclear Power Plant, amounting EUR 4 billion, as well as the brownfield project for the modernization of the 800 MW power plant located in Brăila, with investments estimated at over EUR 1 billion.
Furthermore, in the field of renewable energy, Muşat & Asociaţii provides legal assistance for several complex projects performed on the local market by reputed European players in such sector such as Enel, Martifer, Good Wind or Statkraft Markets.