Significant amendments in the energy sector – bilaterally negotiated PPAs have green light

As of the entry into force of the Electricity and Natural Gas Law no. 123/2012 (“Energy Law“) in July 2012, all wholesale electricity transactions had to be concluded exclusively on the centralized market (“OPCOM“), in a transparent, public, competitive and non-discriminatory manner. The conclusion of bilateral power purchase agreements (“PPAs“) outside OPCOM markets was not …

Romania: Financial and Insolvency Measures – Legislative Fallout from the COVID-19 Outbreak

Download Financial and Insolvency Measures: Legislative Fallout from the COVID-19 Outbreak (A multijurisdictional overview for the central European, southern European and Baltic countries). LOANS The Romanian Government has introduced certain facilities for loans granted by credit institutions and non-banking financial institutions to certain categories of debtors under Government Emergency Ordinance no. 37/2020 (the “GEO 37/2020”) …

Suspension of the repayment of loans in the context of the COVID-19 pandemics

In the context of the COVID-19 pandemics, the Romanian Government has introduced certain facilities for loans granted by credit institutions and non-banking financial institutions to certain categories of debtors under Government Emergency Ordinance no. 37/2020 (“GEO 37/2020”) as further detailed by its implementation norms set out under Government Decision no. 270/2020. Concurrently, on 3 April …