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CMS and Boyanov & Co Advise on YGY Industries Sale of 229-Megawatt Solar Plant to Rezolv Energy

CMS and Boyanov & Co Advise on YGY Industries Sale of 229-Megawatt Solar Plant to Rezolv Energy

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CMS has advised YGY Industries on the sale of the 229-megawatt St. George greenfield solar plant in Bulgaria's Silistra municipality to Rezolv Energy. Boyanov & Co and, reportedly, Clifford Chance advised Rezolv Energy.

Rezolv Energy is a subsidiary of Actis, a sustainable infrastructure investor.

According to CMS, the construction is due to start before the end of 2023 and the plant is expected to be completed in early 2025. Once constructed, it will be the largest solar plant in Bulgaria. The project will comprise nearly 400,000 solar panels and, with an average annual power generation of 313 gigawatt-hours, it will produce the equivalent of 13% of Bulgaria’s currently installed solar power.

Furthermore, CMS reports that the plant will be connected to the main transmission grid via two independent connection lines totaling about six kilometers in length. The power will be sold to commercial and industrial users through long-term power purchase agreements.

The CMS team included Sofia Managing Partner Kostadin Sirleshtov, Partner Atanas Bangachev, Counsel Borislava Piperkova, Senior Associates Alexander Rangelov, Konstantin Stoyanov, Elena Yotova-Yordanova, and Vaska Solakova, Associates Yavor Danailov, Diyan Georgiev, and Viktoriya Dimitrova, and Trainee Lyubomira Tanchovska.

The Boyanov & Co team included Partners Alexander Chatalbashev, Yordan Naydenov, and Nickolay Nickolov, Senior Associate Nedyalka Novakova, Associate Svetlana Tzvetkova, and Junior Associate Teodora Peycheva.

Editor's Note: After this article was published, Clifford Chance confirmed it had advised Rezolv Energy on the acquisition. The firm's team included Prague Managing Partner Alex Cook, Counsel Michal Jasek, and Associate Tomas Prochazka.

Boyanov & Co. at a Glance

BOYANOV & Co. is renowned for its exceptional services and extensive experience in a wide array of industries. As a co-founder and initiator of the SEE Legal Group, the firm has significantly influenced the legal landscape in the region.
Established in 1990, BOYANOV & Co. has been instrumental in advising on numerous landmark transactions in Bulgaria, earning an unrivalled reputation both locally and internationally as the go-to law firm for multinational businesses.
The firm's market leadership is underpinned by the superior quality of its services, which are informed by years of experience in international transactions, a deep understanding of local, European, and international law, and the exceptional expertise of its professionals. The diverse industry experience provides the firm with unique insights and a comprehensive understanding of its clients' businesses and their respective markets, enabling it to transfer successful solutions across borders.
BOYANOV & Co. offers a broad spectrum of integrated services, with notable expertise in Mergers and Acquisitions (M&A), Restructuring, Banking & Finance, Energy & Natural Resources, Technology, Media, and Telecommunications (TMT), Intellectual Property, Competition, Real Estate and Infrastructure, Employment, and Dispute Resolution.

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