This service is designed for developers, investors, lenders, and M&A teams who need a practical regulatory due diligence for an energy project. We focus on risks that can block or delay the project: land and zoning, building permits, environmental steps, and the grid connection process (ATR, connection agreement, certificates).
The information is general and does not replace legal advice. Facts, documents and chronology matter.
When you need this
- You are acquiring a project company and need a fast regulatory red flag review.
- You are negotiating land rights (purchase, lease, superficies) and need to confirm feasibility.
- Zoning constraints (PUG, PUZ, PUD) may affect buildability, access, and grid routes.
- You need to assess whether environmental steps (screening, EIA, permits) are required and realistic.
- You received or plan to request ATR and need to evaluate timeline and dependency risks.
- You want to check if permits are valid, consistent, and transferable after corporate changes.
- You need to align the project’s technical parameters across applications and studies to avoid contradictions.
What we do in practice
- Build a regulatory map: land, urban planning, environment, grid connection, and licensing milestones in one timeline.
- Review land title and rights relevant to construction and access, including easements and route constraints.
- Check zoning and urbanism documents (PUG, PUZ, PUD) against the project layout and local rules.
- Assess the permitting path under construction law and local procedures, flagging missing steps.
- Review environmental documentation and identify required procedures and permits.
- Review the grid connection file (ATR request, studies, operator communications) and identify compliance gaps.
- Deliver a risk matrix and an action plan, including transaction terms (conditions precedent, covenants, warranties) where relevant.
Documents / information useful for the first review
| Document | Why it matters | Notes |
|---|---|---|
| Land title documents (land book extracts, deeds) | Confirms ownership or rights and encumbrances | Include chain of title, cadastral plans, and access rights |
| Zoning documents (PUG, PUZ, PUD) and certificates | Defines buildability, uses, and constraints | Check setbacks, height limits, land category restrictions |
| Urbanism certificate and approvals | Sets conditions and the list of required permits | Confirm validity and amendments |
| Environmental documentation (screening, EIA, permits) | Determines environmental obligations and timelines | Include correspondence with competent authority |
| Grid connection file (ATR request, studies, notices) | Core to connection feasibility and scheduling | Align technical parameters across documents |
| Project company documents (licenses, corporate changes) | Affects transferability and compliance | Check change-of-control and notification duties |
| Key contracts (land, EPC, O&M, offtake) | Shows allocation of risks and dependencies | Identify conditions precedent and termination triggers |
Risks and frequent mistakes
- Assuming land control is sufficient without checking access, easements, and grid corridor constraints.
- Ignoring zoning limitations that affect layout, height, or land category conversion.
- Starting grid steps without aligning project parameters used in applications and studies.
- Underestimating environmental procedure timelines and documentation requirements.
- Relying on permits that are expired, close to expiry, or not aligned with the current design.
- Incomplete documentation and inconsistent versions across the project file.
- Not linking due diligence findings to transaction documents (conditions precedent, warranties, covenants).
FAQ
What is the typical output of a regulatory due diligence?
Usually a structured report with a timeline, a red-flag list, a risk matrix, and an action plan. For transactions, we link findings to contract terms such as conditions precedent, warranties, and covenants.
Does an ATR guarantee that the project can be connected?
ATR is a key milestone but it does not remove all risks. The connection process may involve additional steps, timelines, and constraints that should be checked against the project’s parameters and operator requirements.
How do you check if permits are transferable after an acquisition?
We review the legal regime of each permit, its addressees, and any change-of-control rules, then assess whether notifications or re-issuance may be required. The answer depends on permit type and project structure.
Can neighbours or NGOs delay the project?
Challenges can delay a project if key permits are contested. A dispute-ready documentation file and a clear compliance trail help you respond faster if a challenge appears.
When should due diligence start?
Ideally before committing significant capex or signing binding transaction terms. Early checks often identify issues that are cheaper to fix while the project is still flexible.
Internal links
Sources
- Romanian Energy Law no. 123/2012 (electricity and natural gas)
- ANRE Order no. 59/2013 (grid connection regulation)
- Law no. 50/1991 (construction authorisations)
- Law no. 350/2001 (territorial planning and urbanism)
- Emergency Ordinance no. 195/2005 (environment protection)
- Government Decision no. 445/2009 (environmental impact assessment framework)
- Directive (EU) 2018/2001 (Renewable Energy Directive)