Public private partnerships & concession law
We have advised various Governmental institutions as well as private clients in public tenders, property finance and leasing, concession of public assets and services, drafting and negotiating public private partnerships (PPP) & concession agreements, feasibility studies, regulatory issues, royalties and tariffs. Our team has broad expertise covering complex transactions such as motorway and road projects, power sector projects, mining transactions, delivery of services or facilities for water/wastewater and urban development, and advice on PFI, BOT and other similar schemes and innovative financing techniques. We pride ourselves in providing our clients with creative thinking, with the right blend of legal ability and a constructive commercial approach.
Our recent instructions include:
- Advising Enel Produzione SpA (the largest electricity company in Italy) on an estimated EUR 3.5 billion joint-venture project with the Romanian State-owned company NUCLEARELECTRICA S.A. for the development of Units 3 and 4 of Cernavoda Nuclear Power Plant. The Firm advises on the full range of legal issues pertaining to the envisaged partnership (including reviewing the existing legal framework in the field of decommissioning and waste management) and assists the client in the prequalification and qualification stages and negotiations with the initiator of the project.
- Advising Enel SpA on the ongoing PPP project launched by Termoelectrica S.A. (the largest State-owned electricity produces in Romania) in relation to the refurbishment and new capacities development project for several power plants in Braila, Doicesti, Borzesti and Galati. Our mandate includes performance of a legal due diligence in connection with the existing capacities, the preparation of all offer related documents and the structuring and negotiation of the relevant transaction documents.
- Advising Electrocentrale Bucuresti S.A., a leading State-owned electricity producer, in connection with structuring and implementation of several greenfield/brownfield projects aimed to modernize existing power plants and develop new co-generation capacities, together with several private investors, such as Dalkia International, Bateman Group and Equest Partners Ltd..Our advice was sought for putting in place adequate corporate structures, share capital funding, shareholders agreements and corporate governance matters.
- Advising Enel Produzione SpA on a PPP project with Hidroelectrica S.A., the biggest generator of hydroelectric power in Romania.
- Advising Gabriel Resources, a major Canadian mining group, in relation to the exploration and exploitation of Rosia Montana gold mining site (the biggest gold and silver mining site in Europe) in partnership with the Romanian State-owned company Minvest S.A.. The development of the Rosia Montana mining project is one of the biggest foreign investments in Romania, the total value of the investment being in excess of USD 3 billion. The firm is acting as lead legal adviser, dealing with complex concession law issues, including the legal management of the company's mining concession licenses, protocols and partnerships concluded with the local authorities for resettlement and relocation process and concession agreements to secure the surface rights necessary for project’s development.
- Advising Nova Imobiliare on the ongoing PPP project with the Municipality of Bucharest with regard to the development of the largest shopping center in Bucharest City (Colloseum Center), the total value of the investment being in excess of EUR 500,000,000. Our involvement in the project included drafting and negotiating a partnership agreement with Bucharest City Hall for development of the public infrastructure, including identifying complex legal solutions for upgrading the roads, utilities supply (water, sewage, energy), transportation infrastructure, etc.
- Advising Halliburton B.V., a major US procurement and construction service provider in the oil field, in connection with the development of a multi-million project for the engineering, procurement and construction of an industrial production facility.
- Advising Statkraft Markets Gmbh, a major European renewable energy producer, in relation to its Romanian energy projects, including a proposed PPP agreement along with Romanian State-owned Company Transelectrica S.A. for the financing and contracting of the feasibility study for the HVDC Link 400 kV- Subsea Cable(s) between Romania and Turkey.
- Advising EP Energy Projects in connection with the implementation of a project in cooperation with local public authorities consisting in the construction and operation of a wind power plant, together with all technical installations and facilities.
- Advising the Municipality of Braila City and the related local Authorities on their proposed PPP project with a strategic investor for the construction of an international airport in Braila. Our advice was sought for the preparation of the tender process for selecting the investors putting in place adequate corporate structures and corporate governance rules, share capital funding, etc.
- Assisting European Bank for Reconstruction and Development in connection with financing granted to Apa Nova, the concessionaire of the water and sewerage services in Bucharest, for the construction of a water treatment plant (Crivina). Our services related to the drafting of the security package as well as assistance in the negotiation of a direct agreement to be concluded between the Bucharest City Hall (the conceding authority), Apa Nova and the bank.
- Advising Vinci Construction Grands Projects, a leading European construction company in connection with a PPP agreement with the Romanian Ministry of Transport in view of financing, designing, building and operating the Bucharest-Brasov highway.
- Assisting Alstom Transport S.A., the Romanian subsidiary of a world leader in power and transport activities on a PPP agreement with Metrorex S.A., the Romanian subway operator, regarding the maintenance and modernization of locomotives and wagons.
- Advising Suez Lyonnaise des Eaux (ONDEO), a leading European utilities company, on the concession agreement concluded with the Water Public Corporation for the concession of the Bucharest water facilities.
- Retained by Elf Aquitaine and the National Oil Company Petrom S.A. in connection with the concession agreement concluded with the National Agency for Mineral Resources for the exploration and exploitation of an oil field in the Black Sea.
- Advising Bayindir Holding A.S., one of the leading European companies active in landmark and infrastructure projects, with regard to several real estate projects, including the Brasov International Airport Project, Baneasa Residential Park and several BOT and BOOT projects.
- Retained by the Romanian Ministry of Transport in connection with the legal review of various specific property matters under the expropriation law for the construction and operation of the Bucharest-Brasov highway.
- Retained by the Presidency of Romania in connection with regulatory issues, including the review of the laws related to public domain, more particularly with respect to the investments in public ownership including concession over state owned land and related real estates projects.
- Advising WS Atkins International Ltd. in its capacity of main consultant of the EBRD as counsel for the preparation of a PPP strategy for roads in Romania, with particular preference to the Bucharest-Brasov motorway.
- Advising TDI GROUP in connection with the EU PHARE Program on “Operational Support for Establishing Proper Implementation Procedures for Business Infrastructure Projects” having the Romanian Ministry of Development and Prognosis as beneficiary.
