01/04/2010 - Focus On Renewable Energy
“The Renewable Energy has captured investors’ interest in the recent years and has developed at an amazing pace since the enactment of Law 220/2008, which established the annual binding quotas of green certificates for 2008-2020 time frame and allowed planning the investments on a medium and long term. Unfortunately, the law is yet not fully functional as is still waiting for EU approval in respect of State-aid and it also lacks the norms required for implementation. Amending the legislation is bound to double the number of investors in the renewable sector: from my personal experience I can tell you that I have met at least with 10-15 entrepreneurs in the past months, possessing both financial resources and commercial interest to build green energy projects”, says Miruna Suciu, Partner with Musat & Asociatii and the head of the energy department.
About a year passed since the European Commission requested further information regarding Law 220/2008 and methodological norms are not yet in place. “Clarifying the aspects regarding the green certificates trading scheme, considered by some voices as a disguised form of State-aid and being investigated by the European Commission as well, is essential in order to create a competitive business environment in the energy field. The discussions that took place today between the authorities and the private sector representatives show the common will of all parties involved to solve this situation”, says Anca Buta Muşat, Partner with Muşat & Asociaţii.
At the event, representatives of Romanian authorities, such as Ministry of Economy, Trade and the Business Environment or The Competition Council, shared their views alongside the biggest players in the sector and leading consultancies such as Deloitte and KPMG.
In the field of renewable energy, Muşat & Asociaţii provides legal assistance for reputed European players such as Enel, Martifer, Infusion, Global Wind Energy or Statkraft. Moreover, the firm’s long-standing energy expertise includes numerous high-profile projects such as the privatization of Electrica Muntenia Sud, the EUR 1.2 billion Termoelectrica’s debt restructuring, the development of Unit 3 and 4 of the Cernavoda Nuclear Power Plant, amounting to EUR 4 billion, the brownfield project for the refurbishment of the 800 MW power plant located in Brăila, with investments estimated at over EUR 1 billion or assisting Rompetrol Group in the mandatory public offering of Rompetrol Rafinare and Rompetrol Well Services.
Furthermore, Musat & Asociatii’s energy expertise is regularly praised by the reputed international legal guides, Chambers & Partners and Legal 500, which place the firm at the top of the rankings in this area of expertise and highly recommend our lawyers as experts on the Romanian energy market.
About MUŞAT & ASOCIAŢII
MUŞAT & ASOCIAŢII is one of the first law firms set up in Romania after January 1st, 1990. With 12 partners and more than 100 attorneys and counselors, Musat & Asociatii provides advisory services for all sectors of the business law, including mergers & acquisitions, privatizations, banking, energy & natural resources, competition, company law, telecommunications & IT, labor law, fiscal law, capital markets, real estate law, environmental law, as well as in litigations & commercial arbitrations.
MUŞAT & ASOCIAŢII has been recognized as one of the pillars of the Romanian business law and the foreign specialized publications regularly recommend the company as one of the leaders of the domestic law market. The company portfolio includes more than 2,500 clients, large local or international corporations, such as: : Enel SpA, Orange, Rompetrol, PPF Partners, European Investment Bank, RBS (Royal Bank of Scotland), Fortis Bank, KBC Bank, Raiffeisen Bank, OTP Bank, Eli Lilly, GlaxoSmithKline, Novartis, ING Real Estate, General Electric, General Motors, Intel Corp, Oracle, AON, AT&T, Thyssen Krupp, Generali, Immoeast, Petrom, AFI Europe, Electrolux, SBS Broadcasting Corporation, just to name a few.
About a year passed since the European Commission requested further information regarding Law 220/2008 and methodological norms are not yet in place. “Clarifying the aspects regarding the green certificates trading scheme, considered by some voices as a disguised form of State-aid and being investigated by the European Commission as well, is essential in order to create a competitive business environment in the energy field. The discussions that took place today between the authorities and the private sector representatives show the common will of all parties involved to solve this situation”, says Anca Buta Muşat, Partner with Muşat & Asociaţii.
At the event, representatives of Romanian authorities, such as Ministry of Economy, Trade and the Business Environment or The Competition Council, shared their views alongside the biggest players in the sector and leading consultancies such as Deloitte and KPMG.
In the field of renewable energy, Muşat & Asociaţii provides legal assistance for reputed European players such as Enel, Martifer, Infusion, Global Wind Energy or Statkraft. Moreover, the firm’s long-standing energy expertise includes numerous high-profile projects such as the privatization of Electrica Muntenia Sud, the EUR 1.2 billion Termoelectrica’s debt restructuring, the development of Unit 3 and 4 of the Cernavoda Nuclear Power Plant, amounting to EUR 4 billion, the brownfield project for the refurbishment of the 800 MW power plant located in Brăila, with investments estimated at over EUR 1 billion or assisting Rompetrol Group in the mandatory public offering of Rompetrol Rafinare and Rompetrol Well Services.
Furthermore, Musat & Asociatii’s energy expertise is regularly praised by the reputed international legal guides, Chambers & Partners and Legal 500, which place the firm at the top of the rankings in this area of expertise and highly recommend our lawyers as experts on the Romanian energy market.
About MUŞAT & ASOCIAŢII
MUŞAT & ASOCIAŢII is one of the first law firms set up in Romania after January 1st, 1990. With 12 partners and more than 100 attorneys and counselors, Musat & Asociatii provides advisory services for all sectors of the business law, including mergers & acquisitions, privatizations, banking, energy & natural resources, competition, company law, telecommunications & IT, labor law, fiscal law, capital markets, real estate law, environmental law, as well as in litigations & commercial arbitrations.
MUŞAT & ASOCIAŢII has been recognized as one of the pillars of the Romanian business law and the foreign specialized publications regularly recommend the company as one of the leaders of the domestic law market. The company portfolio includes more than 2,500 clients, large local or international corporations, such as: : Enel SpA, Orange, Rompetrol, PPF Partners, European Investment Bank, RBS (Royal Bank of Scotland), Fortis Bank, KBC Bank, Raiffeisen Bank, OTP Bank, Eli Lilly, GlaxoSmithKline, Novartis, ING Real Estate, General Electric, General Motors, Intel Corp, Oracle, AON, AT&T, Thyssen Krupp, Generali, Immoeast, Petrom, AFI Europe, Electrolux, SBS Broadcasting Corporation, just to name a few.
