POP PEPA advises on 200 MW wind farm JV with mezzanine step-up
December 23, 2010
POP PEPA has acted as sell-side counsel on a joint venture mandate related to a 200 MW wind farm project in Eastern Romania. The joint venture also entailed a related mezzanine financing step-up, which involved the participation of a Chinese-American private equity fund based out of Shanghai, China. The deal team included managing partner Steven Pepa, and attorneys Claudiu Pop and Irina Banica.
Commenting on the transaction, managing partner Steven Pepa said: “We are pleased to have assisted in this transaction. Its success is an indication that the recent financial liquidity problems in Europe have not dampened investors’ interest in emerging markets, specifically alternative energy opportunities in Romania.”
With the introduction of additional private equity into the project company, the JV is now focused on finalising for the read-to-build phase and ultimately its sale to an international operator.
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