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CMS and Spasov & Bratanov Advise on Sale of 25-Megawatt Chernogor PV Project in Bulgaria

CMS and Spasov & Bratanov Advise on Sale of 25-Megawatt Chernogor PV Project in Bulgaria

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CMS has advised Global Financial Consulting on the sale of the 25-megawatt greenfield Chernogor photovoltaic project to US investor Bulgaria Solar. Spasov & Bratanov advised Bulgaria Solar. Varadinov & Co reportedly advised the other sellers, Totally Green and Ki Energy.

The transaction involved the acquisition of the Enerfin 2 EOOD SPV, the company owning and developing the Chernogor project.

According to CMS, Bulgaria Solar was already active on the market, through its 2022 acquisition of Alfa Energy EAD, a Bulgarian company operating the 2.4-megawatt Yankovo PV project.

The CMS team included Managing Partner Kostadin Sirleshtov, Counsel Borislava Piperkova, and Associate Dian Boev.

The Spasov & Bratanov team included Partner Vassil Hadjov and Associate Vladimir Tashev.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

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