Kinstellar assists the local subsidiary of Ontario Power Generation on the award of EUR 3.156 million contract to support refurbishment at Cernavodă nuclear power plant
February 2021 – Kinstellar is pleased to announce that it has successfully assisted Ontario Power Generation (one of Canada’s and North America’s energy giant companies), through its local subsidiary, Canadian Nuclear Partners, on the award of a €3.156 million contract for the refurbishment of Reactor 1 in Cernavodă nuclear power plant.
Assistance included all aspects regarding the participation of the client in the investment, including nuclear liability aspects, contractual liability matters, regulatory, public procurement law, corporate aspects, and others. The team has been assisting the client on all aspects since its entry on the Romanian market.
Canadian Nuclear Partners is a subsidiary of Ontario Power Generation (a corporation wholly owned by the Government of Ontario and responsible for approximately half of the electricity generation in the Province of Ontario, Canada) which is a leading provider of energy services including nuclear energy, renewable energy - hydro and solar generation, and advancement of new technologies such as small modular reactors.
The Cernavodă Nuclear Power Plant is a two-unit CANDU 6 station operated by the state-owned power utility Nuclearelectrica. Nuclearelectrica has already completed several procurement procedures related to the refurbishment of reactor 1 at Cernavodă.
Kinstellar’s team was coordinated by Iustinian Captariu, Partner and Head of the local Energy and Natural Resources practice and Head of the Competition practice, and included Associates Răzvan Crețu, Cătălin Graure, Mădălina Perțe, Mihai Coadă and Andreea Liviță.
Quoting Iustinian Captariu, “This mandate confirms our position on the market as legal advisors on high-profile energy mandates. We are thrilled for having had the occasion to work on the matter and are happy for completing it for our client. In the past year our team has been extremely busy and we continue to see a surge in activity in renewables (with particular focus on solar projects), nuclear and the oil and gas sector.”
Kinstellar is a strong choice on the local energy market whether it is nuclear energy, oil and gas, power or renewables, with the team being able to also cover regulatory, public procurement, competition or corporate law angles of a mandate.
Other recent transactions that support the statement above include advising:
A group of investors on the acquisition of 40 on-shore oil fields from OMV Petrom;
A leading Swiss energy trader on the bid for Steag wind farm in Romania;
A regional player on the acquisitions of several hydro power plants in Romania;
Regional and multinational energy players on the long-term gas purchasing contracts from the Black Sea;
A leading Swiss energy trader on Romanian natural gas sector trading, legislation and all regulatory matters;
A multinational corporation on the acquisition of a renewable energy company involved in the development, construction, and operation of wind and solar projects;
A reputed European privately-owned energy trading company on obtaining a natural gas supply licence and related advice on energy law;
An energy and natural gas supplier on its multi-million euro disputes and debt recovery from its clients in insolvency proceedings.
For more information please contact Iustinian Captariu, Partner and Head of the local Energy practice and Head of the Competition Practice, at .
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