Advising on OX2’s 96MW Romanian wind project sale to HELLENiQ ENERGY

The project is supported by a 12-year virtual power purchase agreement (PPA) with Ahold Delhaize, a leading international retailer, covering more than 50% of the wind farm’s output. Once operational, the wind farm will generate approximately 309 GWh annually—enough to power 89,000 households and avoid around 99,000 metric tons of CO2-equivalent emissions per year—making it a key contributor to Romania’s renewable energy objectives and the broader energy transition in the region.

A&O Shearman played a pivotal role in structuring and executing this complex cross-border transaction. Our advice was instrumental in securing the long-term PPA structuring and construction aspects. The transaction was led by counsel Kamil Jankielewicz and supervised by partner Jarosław Iwanicki. The team also included senior associates Antoni Roszkowski and Farah el Yacoubi.

"Working on this transaction was a unique opportunity to support our clients in delivering a project that not only contributes to Romania’s energy transition but also strengthens the position of OX2 as leaders in the European renewable energy market. We are proud to have been part of this landmark undertaking," added Kamil Jankielewicz.

This deal reflects the accelerating momentum in Romania’s renewable energy market and the growing appetite for long-term, sustainable energy solutions across Europe. A&O Shearman’s continued involvement in such landmark transactions underscores its commitment to supporting clients at the forefront of the energy transition.