Schoenherr has advised Enery Element on the sale of its 50% stake in Dunav Solar Plant, the developer of the Gabare photovoltaic project in northwest Bulgaria, to OMV Petrom, as part of a 50-50 joint venture between the two companies. Simultaneously, Enery Element transferred the remaining 50% of its shares to Enery Power Holding.

In April 2025, the Hungarian Parliament adopted significant amendments to the Act on Energy Efficiency, bringing about a major revision of the Energy Efficiency Obligation Scheme (EEOS). The new legislative package introduces a range of substantial changes aimed at accelerating the country’s transition toward a more sustainable and energy-efficient building stock while also providing a much-needed stimulus for the domestic construction and renovation sectors.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

Bulgaria’s renewable energy sector has seen significant growth in recent years. In 2024, almost 1 gigawatt of new renewable energy capacity was connected to the grid, predominantly from solar energy. Notably, no new wind farms have been commissioned since 2012, primarily due to administrative barriers and local opposition. However, investor interest remains high, especially in the southern and northwestern regions. Projects like the 238-megawatt Tenevo hybrid solar plant in Yambol, which plans to integrate a solar park, wind turbines, and energy storage, exemplify this trend.

Bulgaria’s energy sector has been undergoing deep and rapid reforms. The combination of the effects of the war in Ukraine and the related sanctions, the European Green Deal and the rapid decrease of investment costs for renewables, the commitments for a coal-free future, and the neighboring discoveries of natural gas in the Black Sea – all combined with the unprecedented support for nuclear energy – is putting Bulgaria on the global investment map.

Djingov, Gouginski, Kyutchukov & Velichkov, working with Linklaters, has advised joint bookrunners Citigroup and J.P. Morgan on the EUR 800 million Eurobond issuance by Bulgarian Energy Holding. Spasov & Bratanov, working with Allen Overy Shearman Sterling, advised Bulgarian Energy Holding.