Next Generation Partners

Energy and natural resources in Bulgaria

Boyanov & Co.

Boyanov & Co.‘s energy and natural resources practice is eminent in the field thanks to its ability to handle a broad range of multi-disciplinary matters, lending its considerable expertise to significant mandates and advising on regulatory, infrastructure, financing and M&A matters in the space. The team’s impressive client list includes Powerchina Resources Limited, a subsidiary of the state-owned Chinese power company, and recent work highlights include advising J.P Morgan on the financing of a major acquisition of Bulgarian utility distribution companies. Among the notable practitioners in the team are Alexander Chatalbashev, who heads the practice group and is particularly well versed in cross-border mandates, large-scale M&A transactions and litigation in the sector, and Damian Simeonov, who is known for his advice on the financing of major energy projects.

Practice head(s):

Alexander Chatalbashev


Other key lawyers:

Damian Simeonov; Svetlina Kortenska; Nikolay Nickolov


Testimonials

‘Availability of a wide range of legal professionals.’

‘Precise and accurate professionals.’

Key clients

EVN Trading South-East Europe


Powerchina Resources Limited


SevlievoGas


Ideal Standard


Copenhagen Green Energy


Ming Yang Wind Power (International)


J.P. Morgan


OTP Bank


DSK Bank


Work highlights


  • Advised J.P. Morgan AG, BNY Mellon Corporate Trustee Services Limited and DSK Bank AD on the acquisition of the Bulgarian business of energy conglomerate CEZ.
  • Advised Swiss Green Energy Holding on the acquisition of the development rights and the construction of photovoltaic (PV) and wind power plants.
  • Advised the local subsidiary of Ideal Standard on the structuring of a project for the construction of a PV plant.

CMS

The energy practice at CMS spans renewable energy, nuclear and environmental matters, regulatory issues and major projects. Notable standouts from its client list include Arkad Consortium, which the team advised on the design, procurement and construction of pipeline for the transit of natural gas through Bulgaria as an extension of the TurkStream pipeline, a project which involved multiple jurisdictions and was valued at €1.175bn. Kostadin Sirleshtov, whose extensive expertise covers both traditional and renewable energy, infrastructure and projects matters, jointly leads the team alongside Dimitar Zwiatkow.

Practice head(s):

Kostadin Sirleshtov; Dimitar Zwiatkow


Other key lawyers:

Denitsa Dudevska


Testimonials

‘A great team of professionals, with extensive expertise in the oil and gas industry. They provide very prompt and client-oriented advice.’

‘Kostadin Sirleshtov is a superb professional, who has extensive expertise in the oil and gas sector, is very client-oriented and has strong connections with the relevant authorities. Denitsa Dudevska is a high-quality professional, is very knowledgeable about oil and gas legislation, and provides high-standard legal advice very promptly.’

‘Strong track record in the field and highly recognised by various industry stakeholders.’

‘Entrepreneurial approach to legal advisory services, outstanding experience in the field, hands-on advice for clients.’

‘Kostadin Sirleshtov is an exceptionally knowledgeable lawyer with expertise  that goes beyond legal matters, such as commercial and technical knowledge of projects.’

Key clients

Arkad Consortium


United States Trade and Development Agency (USTDA)


Green Energy Advisors


First May


Xylem


SaxEnergy


CEZ Bulgaria


Vier Gas Transport


BayWa r.e. Solar Projects


Axpo Bulgaria


AKSA Enerji


Vestas Development


Work highlights


  • Advised Arkad Consortium and several related companies on the design, procurement and construction of the extension of the TurkStream pipeline.
  • Engaged by the United States Trade and Development Agency (USTDA) through Green Energy Advisors LLC to be sole legal counsel on the development and structuring of the rehabilitation of the Sofia District Heating Company.
  • Advised the developer on the sale of the largest greenfield PV project in Bulgaria.

Djingov, Gouginski, Kyutchukov & Velichkov

The team at Djingov, Gouginski, Kyutchukov & Velichkov handles an extensive range of mandates emanating from the energy and natural resources sector. Notable clients include ContourGlobal Maritsa East III, Axpo Bulgaria and the Ministry of Energy of the Republic of Bulgaria. Practice co-head Milan Pandev is vastly experienced in the field, having advised on numerous cornerstone energy projects in Bulgaria. Anton Krustev is another key contact; as a specialist in public-private partnerships (PPP), he has extensive knowledge of large-scale projects in the energy sector. Senior associate Radoul Iliev focuses on energy exchange and public procurement matters.

Practice head(s):

Milan Pandev; Georgi Gouginski


Other key lawyers:

Anton Krustev; Radoul Iliev


Key clients

ContourGlobal Maritza East III


Portigon


Erste Abwicklungsanstalt


Proger


Ministry of Energy of the Republic of Bulgaria


Axpo Bulgaria


Vitol Gas & Power


Shanghai Sensheng Assets Management Centre (Limited Partnership)


VM Ware


Work highlights


  • Advised thermal power plant ContourGlobal Maritsa East III AD with regard to various legal matters.
  • Acted as legal counsel to Axpo Bulgaria in relation to its overall activities in Bulgaria, including advising on corporate law matters, energy regulation and power trading.
  • Provided legal advice to the Ministry of Energy of the Republic of Bulgaria in relation to tenders for the sale of electricity to industrial consumers on the wholesale market and the compensation of end users of electricity.

Kambourov & Partners

Kambourov & Partners fields a team of industry experts from the firm’s litigation and projects practices, contributing to its historically strong track record of advising on landmark projects in the energy sector. The team provides litigation and advisory services on the full suite of matters in the sector; work highlights include acting on behalf of CEZ Group in investment arbitration proceedings against the Republic of Bulgaria before the International Centre for Settlement of Investment Disputes (ICSID). Practice leader Stefan Tzakov is a renowned litigator whose work spans all areas of the energy sector. Irena Petkova is also a name to note.

Practice head(s):

Stefan Tzakov


Other key lawyers:

Irena Petkova; Emil Emanuilov; Ivaylo Nikolov


Testimonials

‘The firm provides various options for solving problems in the energy and natural resources area. They always have in-depth commercial awareness and thus always provide a competent analysis of the relevant legal framework and case law.’

‘Energy and natural resources requires specific knowledge. The main lawyers from Kambourov & Partners we have worked with the most are Ivaylo Nikolov and especially Emil Emanuilov. These lawyers are responsive, correct and available at any time. Their attitude to work is analytical, professional and competent. All of them have the required high level of competence, a responsible and correct attitude, and provide fast and accurate advice.’

Key clients

Mercuria Group


Holding Slovenske elektrarne


State Oil Company of the Azerbaijan Republic (SOCAR)


ERU Europe


Trafigura


Alpiq Energy


Alpiq Energia Bulgaria


Gunvor Group


Danske Commodities


HS Timber


Toplofikacia Ruse


Correggio Consulting


United Group, Netherlands


Gruppo Società Gas Rimini


ČEZ


RWE Supply & Trading


Citygas Bulgaria


European Federation of Energy Traders


GEN-I d.o.o., Slovenia


Work highlights


  • Advised a number of energy companies, including Mercuria Group, SOCAR, Trafigura, Gunvor Group and Danske Commodities, on various electricity, gas licensing and trading issues.
  • Advised United Group on the acquisition and further development, construction and operation of a wind power plant.
  • Represented CEZ Group in ICSID investment arbitration proceedings against the Republic of Bulgaria.

Schoenherr

Noted for its ‘real experience in energy trading and licensing mattersthe team at Schoenherr has demonstrable acumen in the space. Drawing from the strength of practice areas, the multi-disciplinary department has a strong portfolio of energy sector work, including, but not limited to, transactional, competition, regulatory and project financing matters. A focus on renewable energy projects is a defining aspect of the practice, as evidenced by the advisory services provided to RGreen Invest on the financing of a PV plant via a green bond issuance. The ‘proactiveStefana Tsekova is the main point of contact as head of the practice group, focusing on acquisitions, project finance, regulatory and corporate matters in the space. Dimitar Kairakov is a key name at associate level.

Practice head(s):

Stefana Tsekova


Other key lawyers:

Alexandra Doytchinova; Dimitar Kairakov; Katerina Kaloyanova-Toshkova


Testimonials

‘The firm has real experience in energy trading and licensing matters, coupled with a detailed understanding of the commercial and technical aspects of the sector. In addition to that, its solid knowledge in the field of M&A and project finance creates an excellent mix of expertise, making the firm a one-stop shop for energy companies.’

‘Stefana Tsekova demonstrates a convincing knowledge and experience in energy regulation and trading. She is a proactive lawyer who is always keen on finding solutions instead of telling us what cannot be done.’

‘Katerina Kaloyanova-Toshkova is always available and can perform under extreme pressure. She is ready to provide spot-on advice in challenging timeframes, even on complex matters.’

‘A tight team with a very good knowledge of local legislation.’

‘Stefana Tsekova is extremely swift in providing advice, which is always spot on and business oriented.’

Key clients

RGREEN Invest


IBH


Enery Development


Liechtenstein Group


European Commission


MET Group


OMV Bulgaria


Edison Italy


OMV Petrom


Woodside Energy


UniCredit Bulbank


RWE


Raiffeisen Bank International


Work highlights


  • Advised RGreen Invest on a €15m green bond to finance the construction of a PV plant in southwestern Bulgaria.
  • Advised Edison on the Bulgarian corporate and regulatory law aspects of the implementation of the gas interconnector between Bulgaria and Greece.
  • Advised Woodside Energy on the commercial oil and gas deposit exploration rights in Block 1-14 Khan Kubrat in the Black Sea.

Wolf Theiss

The energy and projects group at Wolf Theiss maintains a strong transactional practice covering all aspects of the energy sector, handling both conventional and renewable power generation mandates on behalf of a client roster of multinational energy companies, suppliers and global financial institutions. Standout client names include DEPA Commercial and MET Energy Trading Bulgaria. The practice is jointly led by Radoslav Mikov, who is an eminent practitioner in the field, and renewables expert Anna Rizova. Counsel Oleg Temnikov also stands out for his advice on complex energy projects and dispute resolution expertise.

Practice head(s):

Radoslav Mikov; Anna Rizova


Other key lawyers:

Oleg Temnikov; Katerina Novakova; Jasmina Uzova


Testimonials

‘We receive an outstanding service from the team. The team is responsive, client oriented and maintains excellent contact with the relevant authorities and regulatory bodies. It has an innovative multi-disciplinary approach and exceptional collaboration on regulatory issues and compliance.’

‘We value the exceptional collaboration with Radoslav Mikov. Mr. Mikov regularly advises us on regulatory issues regarding generation, licenses and tariffs, connection to the grid, electricity trade and regulatory compliance issues.’

‘To put things succinctly, we have found all Wolf Theiss Bulgaria representatives to be very professional, courteous and proficient. Importantly, the team is always willing to listen to the client’s needs and work cooperatively to solve potential concerns well before they could otherwise become problems.’

‘Mr. Radoslav Mikov is a very good communicator, has provided clear and well-organised support and prompt and effective written responses to our management and internal legal department, and timely and complete information in relation to developments in the energy market and ongoing legal claims, with a pleasant attitude, all the while focusing on the optimisation of our business in Bulgaria.’

‘Regional coverage in CEE and a wide spectrum of services for most businesses profiles.’

‘Radoslav Mikov and Katerina Novakova are the core of the energy team in the Bulgarian office of Wolf Theiss. Both have excellent expertise in local and European energy regulation. They respond promptly to any request from our end.’

‘The practice lead by Radoslav Mikov is multi-disciplinary, which allows the client from foreign countries to receive comprehensive assistance with starting or progressing their businesses in the country. The lawyers are very experienced, helpful and client oriented. They have a deep understanding of the business structures proposed by the client and are familiar with a vast array of solutions that they can advise on in order to achieve the desired results. They are very used to working with a number of top-tier international clients and this gives us a great sense of comfort and trust.’

‘Oleg Temnikov, despite his young age, is very experienced and is a well-rounded, competent lawyer who has already handled anything you ask of him. Jasmina Uzova is very dedicated and hardworking with deep knowledge in M&A.’

Key clients

Sun’R Groupe


Bulgarian Federation of Industrial Energy Consumers


Metka EGN


MET Energy Trading Bulgaria


Belozem Solar Park


AOT Energy Macedonia Dooel


ArrowResources


Balkan Logic EOOD


Energy Invest Pro


Energeo


Depa Commercial


Enerjisa Europe


Elpedison Power Generation


Protergia Energy


Mytilineos


Work highlights


  • Supported Micrnoix Group in the acquisition of a portfolio of operational PV projects in Bulgaria owned by Samsung.
  • Advised some of the major Greek, Romanian, Bulgarian and CEE natural gas traders on the acquisition of wholesale natural gas trading licences and registration as natural gas market participants.
  • Provided legal advice and support to Protergia Energy on the acquisition of an electricity trading licence in Bulgaria.

Andrey Delchev and Partners - Eurolex Bulgaria

Andrey Delchev and Partners - Eurolex Bulgaria frequently advises state entities on amendments to energy legislation, particularly on complex issues regarding the transposition of EU law. Beyond its public sector advisory work, the team also regularly assists national and transnational private investors with the construction and financing of large-scale energy projects. Managing partner Andrey Delchev heads up the team. He is supported by Magdalena Valova.

Practice head(s):

Andrey Delchev


Other key lawyers:

Magdalena Valova


Key clients

Assarel-Medet


Bulgarian Mining Chamber


Bulgarian Petroleum and Gas Association


CEZ Group


Council of Ministers


Energy and Water Regulation Commission


Lukoil


Ministry of Environment & Waters


National Trust EcoFund


Work highlights


  • Prepared a comprehensive analysis of the Bulgarian and European practices in the field of mineral resources for the Council of Ministers of the Republic of Bulgaria.
  • Advised the Bulgarian Petroleum and Gas Association on the applicable legal rules for fuel export and assisted the client with drafting proposals for the amendment and supplementation of the applicable EU energy legal framework.
  • Represented the Energy and Water Regulatory Commission in a series of legal proceedings before the administrative courts initiated by different producers of electricity which claim that the feed-in tariffs adopted by the client were not properly applied with regards to them.

Georgiev, Todorov & Co

Georgiev, Todorov & Co is renowned for its work on energy-related disputes, leveraging its lawyers' ‘in-depth knowledge of local and international legal developments and precedents’ to assist natural resources companies, gas and oil refineries, and electricity and renewable energy producers in a series of regulatory and court proceedings. Managing partner Nikolay Lazarov leads the practice group and oversees the team’s advice on non-contentious matters, including on major infrastructure and development projects and licensing for renewables producers. Arno Mamasyan is another key port of call at partner level.

Practice head(s):

Nikolay Lazarov


Other key lawyers:

Arno Mamasyan; Dobrina Pavlova; IVan Tserovski


Testimonials

‘Energy and natural resources is one of the specialisms of the law firm. Therefore, we can always rely on their team due to their expert knowledge, dedicated lawyers and excellent results achieved on various matters in the sector.’

‘The depth of the energy and natural resources department is very impressive as it includes lawyers with long-term experience in the field, lawyers who have worked in some of the biggest government institutions for the sector, and legal experts with innovative ideas and an eye for detail.’

‘The key partners of the law firm we regularly work with are Nikolay Lazarov and Arno Mamasyan. Mr. Lazarov is an expert in the energy field, has great negotiation skills, and is very responsive to all of our enquiries. Arno Mamasyan is very experienced, with outstanding drafting abilities, and is very persuasive in court.’

‘Energy is a key sector for Georgiev, Todorov & Co. and we are impressed by their in-depth knowledge of local and international legal developments and precedents, their ability to defend the client’s position before administrative bodies and various courts, and their skill in analysing complex legal matters. In addition, the team uses various technologies in order to be available if there is urgent assistance is needed.’

‘We regularly work with Nikolay Lazarov, who is an expert in the field with great negotiation skills and an excellent success rate. We also work with Ivan Tserovski, who is very experienced, has an eye for detail and amazing drafting abilities.’

‘The team has expertise in the field, long-term clients and experience, as well as a brilliant decision-making approach and excellent client care. They have a diverse team of partners and associates.’

‘They are extremely good professionals and have the ability to quickly become acquainted with the case and propose a strategy. They have strong attention to detail which allows them to predict every possible outcome of the situation and to take all the required actions. They are able to meet the client’s needs and expectations, offering the most appropriate legal strategies.’

Key clients

Albena


Asarel Medet


BMF Port Burgas


Bulgarian Chamber of Mining and Geology


Energoconsult


European Trade of Energy


Galaxy


Gimel Organic


Hydroenergy Association


Hydro Power Utilities


Karnobat Energy


Lubricants Importers Association


Multi Had


National Association of Property Developers


Port of Burgas


Solar Energy


TEC Maritsa 3


TEC Bobov Dol


Tibiel


Toplivo Corporation


Toplofikatsiya Gabrovo


Toplofikatsiya Pernik


Toplofikatsiya Ruse


Toplofikatsiya Sliven


Union Hydro


Union of the producers of Green Energy


Work highlights


  • Represented ten new clients in proceedings against the Energy and Water Regulatory Commission under the State and Municipality Responsibility for Damages Act for damages caused by an illegal act of the Commission.
  • Advised Galaxy RE on the procedure for obtaining a licence for the production of electricity by new PV power plants.
  • Successfully defended the rights of the Albena resort before the Supreme Administrative Court in a dispute with the electricity distribution grid operator licensed for the area of the resort over the ownership of the electricity grid of the hotel chain.

Jordanov, Ignatov, Ivanov Law Firm

Praised as ‘highly skilled and knowledgeable’, the seasoned practice at Jordanov, Ignatov, Ivanov Law Firm is an attractive prospect for public entities. The team's client roster includes the Bulgarian Ministry of Energy, Bulgarian Energy Holding and the National Electricity Company, which the team advises on a series of mandates relating to energy infrastructure projects. In terms of personnel, team leaders Ivan Jordanov and Rumen Ignatov are the key points of contact.

Practice head(s):

Ivan Jordanov; Rumen Ignatov


Other key lawyers:

Dimitar Ivanov; Svetlana Valeva


Testimonials

‘The team responds within the deadlines requested, can act urgently and correctly, and provides useful advice and reasoning.’

‘Rumen Ignatov and Dimitar Ivanov react efficiently, after an in-depth review of the case, and provide very good legal solutions. They are reliable and act responsibly.’

‘The team is highly skilled and knowledgeable. They really know the energy sector as they have been a key consultant to the state energy players for many years. We consider their renewable energy expertise unparalleled.’

‘Ivan Jordanov is an excellent legal professional with more than 20 years of experience in the field. Svetlana Valeva is the key energy lawyer for renewables matters. She is always up to date with the latest status of the law on renewables. Svetlana is a responsive and punctual attorney, providing accurate and commercially oriented advice.’

‘Shortly after we engaged the JII team, we realised that the law firm really provides the highest-level services in the energy sector. Their advice has always been very competent, efficient and business-oriented. We have no doubts about engaging the firm for our future energy projects.’

‘The key contacts are Ivan Jordanov and Svetlana Valeva. They both have an extensive knowledge about the execution of renewable energy projects, starting from the development stage and through the construction phase up until the execution of the trade agreement. Ivan provides excellent advice on project financing. Svetlana is exceptional in dealing with regulatory matters and electricity trading.’

‘The JII team provides excellent services. We are impressed by their in-depth knowledge and expertise in energy law and especially in the field of renewable energy sources.’

‘All of the JII partners and senior associates are professionals with many years of experience. Ivan Jordanov has notable experience in all energy sectors – from nuclear energy to renewable sources. He represents clients before the Bulgarian courts, the state Energy and Water Regulatory Commission, the Ministry of Energy and many others. Svetlana Valeva is a brilliant energy and regulatory lawyer and also a key member of the energy team. She is very efficient, and her advice is always accurate and precise. Among other things, she possesses in-depth knowledge of renewable energy projects and electricity trading.’

Key clients

Bulgarian Ministry of Energy


National Electric Company


Bulgarian Energy Holding


Varna Logistics


Mott MacDonald


Polaris 8


Vicinity


Miltopia


Solay


Powedrone


Industrial Zone Pleven


Work highlights


  • Advised the Ministry of Energy on the re-negotiation of the 1999 concession agreement of the Chelopech underground gold-copper mine.
  • Advising data analytics company Power Drone on the development and operation of two major solar parks.
  • Advising Polaris 8 on various compliance and regulatory issues pertaining to its mining operations.

Kinstellar

The team at Kinstellar is frequently instructed on a variety of cross-border corporate, project financing and regulatory mandates in the energy sector, across both traditional and sustainable energy sources. The group counts Astronergy, Enery and the Eurasian Development Bank among its clients. In terms of personnel, managing partner Diana Dimova co-leads the team with ‘detail oriented‘ counsel Mladen Minev. The practice was strengthened with the addition of experienced of counsel Radoslav Chemshirov from Schoenherr in November 2021.

Practice head(s):

Diana Dimova; Mladen Minev


Other key lawyers:

Radoslav Chemshirov; Antonia Mavrova; Svilen Issaev


Testimonials

‘Kinstellar impressed us with their detailed overview and helped us evaluate key findings during our work together.’

‘Mladen Minev is a detail-oriented lawyer whose deep knowledge helped us when evaluating various findings. Antonia Mavrova’s negotiation skills helped us avoid dead ends several times.’

‘The team works with our group on a daily basis. We rely very much on their competent advice on all energy regulatory and compliance matters, corporate matters and representation in administrative procedures. Last but not least, they assist us in the process of the negotiations of all contracts and financing arrangements.’

‘Mladen Minev is very specialised in energy matters. I really value his critical thinking, responsiveness, and ability to analyse issues from all perspectives and to propose solutions to even the most complex problems.’

‘Svilen Issaev is highly specialised in financing matters. He has strong judgement, flexibility and creativity.’

Key clients

Astronergy


Enery Group


Alpiq Energy


Eurasian Development Bank


NovEnergia


DXT International


Energo-Pro


Direct Petroleum Bulgaria


SOF Connect


Norton Rose Fulbright


Simmons & Simmons


Work highlights


  • Advised Astronergy on the potential expansion of Bulgarian renewable energy portfolio.
  • Advised Private Equity Fund – Growth on a ten-year power purchase agreement between an industrial consumer and a renewable energy producer in Bulgaria.
  • Advised a Bulgarian electricity trader on a new electricity balancing group membership agreement to be used by the client, as an administrator, and the new members of the electricity balancing group.

Penkov, Markov & Partners

The ‘very skilled’ team fielded by Penkov, Markov & Partners handles a broad range of mandates emanating from several key focus areas: energy-related M&A and project development, litigation before the civil and administrative courts, and involvement in legislative processes. State-controlled natural gas operater Bulgartransgaz is a key client and the group is advising the entity on a high-value liquified natural gas terminal project in northern Greece. Vladimir Penkov jointly leads the practice alongside Atanas Valov, who is praised by clients for his experience in renewable energy matters.

Practice head(s):

Vladimir Penkov; Atanas Valov; Nikolay Voynov


Other key lawyers:

Boris Lazarov


Testimonials

‘The team is great! Very skilled!’

‘I absolutely recommend Atanas Valov.’

‘Penkov, Markov & Partners have been an exceptional partner to us and we have worked closely with them for many years. We can honestly say that the lawyers with whom we work possess a high level of professionalism, the ability to explain sophisticated problems in simple words, and a clear and informal manner of communication.’

‘I would like to specifically highlight Mr. Nikolay Voynov, who has provided excellent support on our projects and appears to has deep knowledge of the energy-related aspects of our business, in addition to the purely legal ones. Mr. Boris Lazarov has also contributed significantly to our work, providing swift service, regardless of the time. Of course, Mr. Vladimir Penkov continues to be involved in our matters and we rely hugely on him and his profound expertise, which goes beyond the energy sector.’

‘Penkov, Markov & Partners have a very strong and experienced energy practice. They have been active in the market in this sector for years and they have built up a team that is able to cover all the different aspects of an energy project and can deliver quality advice.’

‘I would particularly recommend Mr Atanas Valov, who is among the most experienced energy lawyers in Bulgaria, in particular on renewables. He is very practical, responsive and knowledgeable.’

‘Nikolay Voynov also has a very good reputation in the market.’

Key clients

EURA Energy


Mondi Stambolijski


Zlatna Panega Cement


Knauf Bulgaria


EnergiMidt Renewables


Minstroi Holding Group


Aenerg Group


GASTRADE


BA Glass


Bulgartransgaz


Work highlights


  • Advised Bulgartransgaz and Gastrade on the liquefied natural gas terminal in northern Greece.
  • Acted for more than 60 renewable energy producers in claims against the state for the recovery of unlawfully collected fees with a total value of more than €5.5m.
  • Advised Eura Energy on the acquisition of a PV plant project with a total capacity of 110 MW.

Arsov Natchev Ganeva

Arsov Natchev Ganeva frequently represents investors in the energy, environmental and natural resources sectors, as well as state authorities, advising on infrastructure and project implementation. The team has continued to advise ICGB AD on the high-profile Greece-Bulgaria gas interconnector project. The practice group operates under the stewardship of Svetlana Ganeva and Jivko Rokov.

Practice head(s):

Svetlana Ganeva; Jivko Rokov


Key clients

Veolia Group


Sofiyska Voda


ICGB AD (Bulgaria-Greece Interconnector)


IB Vogt


Toplivo


LCI Low Carbon Investment


Vinelli


Arkad


Air Liquide


AS 24 (Total SA)


Centroplan


Work highlights


  • Advising Veolia Group and Sofiyska Voda (the Sofia water services operator) on specific water and sewerage regulatory matters, as well as Sofiyska Voda’s concession agreement for the provision of water and sewerage services in the municipality of Sofia.
  • Advised ICGB AD on the gas interconnector project to provide a direct link between the national natural gas systems of Greece and Bulgaria.
  • Providing of legal services to ib vogt GmbH on two ambitious greenfield projects for the construction of solar power plants in Bulgaria.

Dimitrov, Petrov & Co

Dimitrov, Petrov & Co's team of energy law practitioners predominantly advises on regulatory issues in the sector, with particularly expertise in zoning, environmental issues, construction and grid connection matters. Contentious mandates, including litigation against state entities, is another key focus of the group. Pencho Stanchev acts as team leader, frequently advising energy market leaders.

Practice head(s):

Pencho Stanchev


Other key lawyers:

Zoya Todorova; Polya Dimitrova


Testimonials

‘One of the most professional, multi-skilled Bulgarian law firms.’

‘Zoya Todorova is an excellent lawyer in the energy and natural resources field in Bulgaria. Highly skilled Polya Dimitrova is a young and promising lawyer, providing professional advice at the highest standard.’

‘We are delighted to have worked with such experienced, qualified and client-oriented people. What surprised us most is how dedicated they were to our case and how quickly they managed to find the most appropriate solutions for us.’

‘The team handling our matters included Pencho Stanchev, who we were highly impressed by. He is very intelligent and responsive and has always given us the best professional advice. He has in-depth legal knowledge and has vast expertise in the energy sector. Pencho is motivated and calm even in the most challenging situations. We are very satisfied with his brilliant work.’

‘DPC not only advises its clients but also generates business for us by sharing various business opportunities. I am impressed by the industry expertise they have.’

‘Pencho Stanchev is a confident practice head. I am impressed by the energy knowledge that Pencho has! He is bright and trustworthy lawyer who can see the big picture of a transaction and advise on multiple legal matters.’

‘The team is knowledgeable and willing to go into the details and learn.’

Key clients

European Wind Farms Bulgaria


ALPIQ Energia Bulgaria


Alpiq Energy


Digitel


ALRO


Windkraft Simonsfeld


Tradenet Varna


Work highlights


  • Advised European Wind Farms Bulgaria, part of European Energy, on the development of a 10 MW solar power plant in Bulgaria.
  • Advised Alpiq Energy on the restructuring of its financial agreements with counter-parties and the conclusion of a new 2002 ISDA master agreement and a new EFET power purchase agreement.
  • Advised the Mareshki group of companies with regard to the planned investment of over €100m in renewables.

Dinova Rusev & Partners

Dinova Rusev & Partners has continued to strengthen its client base, a testament to the group’s ongoing expertise in renewables and mining-related disputes, acting for major renewable energy companies. In a recent highlight, the team advised Mercuria Energy Trading on a multi-jurisdictional portfolio of wind and solar projects. The experienced Konstantin Stambolov heads up the team.

Practice head(s):

Konstantin Stambolov


Other key lawyers:

Iliya Grozdanov; Radoslav Zahariev; Diana Valkova


Testimonials

‘The firm is known for its expertise in energy and natural resources, particularly relating to greenfield renewable power projects and M&A. The partners at DRP have an excellent commercial sense of the local market and can provide very practical advice. They are able to work under pressure within extremely limited timeframes.’

‘Iliya Grozdanov is one of the key contacts on our project. His commitment to delivering on time is most impressive. Iliya has an outstanding grasp of the regulatory issues and policies of the local renewable energy market. Diana Valkova is also very impressive for her responsiveness and good command of the legal issues regarding real estate and land rights.’

Key clients

Hyperion Renewables


Romenergy Trading


Mercuria Trading


Terna Energy


Mitsubishi Heavy Industries


Bulgarian Energy Holding


Kaliakra Wind Power


Assos Capital – AP Retail


Energo Pro


Gorubso Kardzali


AIK Energy


Mann Energy


Work highlights


  • Assisted Mercuria Trading with all aspects of the due diligence and assessment of a portfolio of wind and solar projects in Bulgaria, Serbia and Romania.
  • Advised Hyperion Renewables on the acquisition and construction of a portfolio of 150 MW PV projects.
  • Defended Kaliakra Wind Power against claims brought by the National Electricity Company for the payment of balancing charges.

Gugushev & Partners Law Office

Advising on the development, licensing and operation of energy and natural resources projects comprises the bulk of the workload of the ‘extremely competent and efficient’ energy practice at Gugushev & Partners Law Office. The team frequently advises on energy legislation and regulatory issues, but can handle the full spectrum of legal matters in the space. Founding and managing partner Stefan Gugushev jointly leads the practice alongside Kostadinka Deleva.

Practice head(s):

Stefan Gugushev; Kostadinka Deleva


Testimonials

‘An extremely competent and efficient team! I am impressed by their knowledge in the field of energy law.’

‘Stefan Gugushev and his team do exceptional work.’

‘Deep understanding of Bulgarian energy law. Rapid responses. Up-to-date and accurate advice.’

Key clients

Hareon Solar Technology


European Energy


China Development Bank


Alpiq AG, Switzerland


El Bonus


Construction Management Group


Urbasolar


AOT Energy Belgium


Energo BR


Ecozid Invest


Kunino Energy


Tarev Group


Work highlights


  • Advised Hareon Solar Technology on its business activities in the renewable energy sector in Bulgaria.
  • Advising European Energy in connection with the investment in and development of a wind farm project in northeastern Bulgaria.
  • Advising China Development Bank, which has a large portfolio of investments in the renewable energy sector in Bulgaria, on regulatory issues.

Kinkin & Partners

The practice at Kinkin & Partners dedicates much of its time to investment projects, licensing issues and contractual disputes in the energy space, as well as advising on legislative amendments. Adriana Nacheva, who has over 20 years' experience, leads the team.

Practice head(s):

Adriana Nacheva


Key clients

Belvi


Bulgaria Engineering


Work highlights


  • Successfully represented Belvi in a case before the Supreme Administrative Court of Bulgaria.
  • Prepared a detailed report on the implementation of the energy efficiency and renewable energy targets set for the Republic of Bulgaria for Bulgaria Engineering.

Eversheds Sutherland

Eversheds Sutherland covers a range of mandates including regulatory, financing, licensing and project matters. The team is also expanding its practice to include advising on ESG compliance for its roster of European clients. Managing partner Irina Tsvetkova leads the group alongside managing associate Yassen Spassov, who joined the team from Djingov, Gouginski, Kyutchukov & Velichkov in January 2022.

Practice head(s):

Irina Tsvetkova; Yassen Spassov


Testimonials

‘Very competent and responsive team.’

Key clients

ENERGO – PRO A.S.


PVB Power (Hera Group)


Work highlights


  • Advised Energo-Pro and its subsidiary Energo-Pro Varna, a guarantor under the bonds, on all Bulgarian law aspects of the issuance of guaranteed notes.
  • Advised Alperia, Dolomiti Energia Holding and Finest on the sale of PVB Power Bulgaria and five hydropower plants along the Iskar River in Bulgaria to Akuo Energy.