Leading central and south-eastern European law firm Wolf Theiss advised Italy-based banking corporations UniCredit SpA and Cassa di Risparmio del Friuli-Venezia Giulia, as well as Romanian bank UniCredit Tiriac on a project financing related to the construction and launch of the first renewable energy biomass facility developed by General Energetic in Romania’s Piatra Neamt county.
The deal is set to take advantage of the country’s strategic importance as a potential ‘hub’ for south-eastern Europe with its combination of strong conventional energy sources, nuclear and – increasingly – renewables.
Reports suggest that Romania may be able to generate sufficient energy not only to support its own rising demands, but also those of neighbours such as Turkey and Bulgaria.