Picture of Kostadin Sirleshtov

Kostadin Sirleshtov

Managing Partner
CEE Head of Energy

CMS Sofia
Landmark Centre
14 Tzar Osvoboditel Blvd
1000 Sofia
Bulgaria
Languages Bulgarian, English

Kostadin Sirleshtov is Managing Partner at CMS Sofia and Head of Energy for CEE.

His particular area of expertise is in conventional, nuclear, renewables, oil & gas, infrastructure, projects, PPP, public procurement, underground resources. He has worked as the Chief of the Minister’s cabinet for the Ministry of Energy and Energy Resources. 

Kostadin has a vast experience in the conventional power and electricity sector. He has represented clients, including renewables organisations, in negotiations with the Bulgarian Government, National Electricity Company and the Electricity Transmission System Operator. He has also advised major international oil & gas prospecting and exploration companies in Bulgaria on various onshore and offshore projects. In addition, he is particularly focused on advising renewables companies (in relation to wind, hydro, solar and biomass projects) on the development, operation and/or sale of their projects in Bulgaria, including on litigation matters.

Kostadin is ranked as one of the top Bulgarian energy experts in the world's leading legal directories Chambers & Partners and Legal 500.

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"Top-rated energy partner Kostadin Sirleshtov leads the team, and is praised by interviewees as a "distinguished, pleasant and upbeat" lawyer with "huge knowledge and understanding of the sector." "

Chambers

Relevant experience

  • A consortium of major international oil & gas companies on the largest oil & gas exploration project in Bulgarian history – offshore Black Sea “Han Asparuh” block. The work included authorisations grant assistance, environmental regulations and other regulatory assistance, assistance in the preparation and conduct of the calls for tender for the procurement of the operational contracts, public procurement assistance, representation before governmental authorities etc.
  • Petroceltic (formerly Melrose Resources) on their oil & gas exploration activities in Bulgaria, including recently on the successful negotiations and signing of an extension of the exploration of oil & gas in the Black Sea’s Galata block, negotiations and signing of new production concession agreements, on-going work related to the intended project for the conversion of a depleted field into a gas storage facility. Petroceltic is Bulgaria’s biggest British investor and since 2001 has discovered four deposits of natural gas and produced natural gas in excess of 3 billion m3.
  • Toshiba International Europe Limited on the successful completion of their EUR 50m project for rehabilitation on Units 5 and 7 of the largest Thermal power plant in Bulgaria Maritsa East 2. We advised on all legal and strategic aspects of this largest deal in the electricity sector in Bulgaria to date, including on first stage of the project for replacement of the turbine at Unit 2 of TPP Maritsa East 2 estimated at EUR 25m.
  • ENEL (Italy) on the Belene nuclear power plant, undertaking full legal due diligence of the Belene nuclear project. Members of our team were involved in preparing the feasibility studies and advising the project consultant during the implementation stage.
  • Foster & Partners on the project design agreement of the new Passenger terminals for Varna and Burgas Airports. The project involved the preparation of the offer and the respective documents, representation during the negotiation phase and revision of the design contract.
  • SDN Company and Korea Development Bank (Korea) on the legal due diligence and acquisition of 5 solar projects in Bulgaria with installed capacity of 58 MW and the establishment of a local subsidiary. The work included: corporate and regulatory advice; legal due diligence; negotiations; assistance with implementation, the successful financing of three projects worth EUR 180m from Korea Development Bank and Unicredit Bulbank.
  • Iberdrola Renovables SA (Spain) on the acquisition of a 74 MW wind farm project in Northern Bulgaria. The work included full legal due diligence, preparation of the transactional documents, completion of the security package and post-closing assistance. This project, worth over EUR 150m, is among the biggest wind farm acquisition projects in Bulgaria. Upon acquisition, we assisted the client with the licensing of the project with the Bulgarian State Energy and Water Regulatory Commission and in the negotiations with the Bulgarian National Electricity for the signing of the Final grid connection agreement.
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Education

  • 2000 – LLM, Sofia University St. Kliment Ohridski, Sofia
  • 2000 – EU Law and Contemporary English law, Cambridge University, Cambridge
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Publications

  • Regular publications in the International Comparative Legal Guides to Oil & Gas Regulation, Mining Law, Environmental and Climate Change Law, Public Procurement.
  • Chapter on Energy in Bulgaria in the 3rd edition of Energy Global Legal Insights. 
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Lectures list

  • 5th Regional Energy Conference (October 28-29, 2014, Sofia)
  • Gas Storage and Transmissions (June, 17-18th June 2015, London)
  • The Eurasian Natural Gas Infrastructure Conference (June 9-10, 2015, Istanbul)
  • Energy from Waste Conference (October 2014, London)
  • Shale Gas Environmental Summit (October 2014, London) 
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Feed

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November 2018
CEE Soil and Ground­wa­ter Con­tam­in­a­tion Guide
23/05/2019
In­vestors have 90 days to de­clare in­terest in the NPP Belene pub­lic...
On 22 May 2019, Bul­gari­an au­thor­it­ies of­fi­cially in­vited po­ten­tial in­vestors to par­ti­cip­ate in the Nuc­le­ar Power Plant (NPP) Belene pub­lic tender. All com­pan­ies in­ter­ested in bid­ding now have 90 days to file let­ters of in­terest.
October 2018
E-pub­lic pro­cure­ment
E-pub­lic pro­cure­ment in a nut­shell
13/05/2019
Changes to Bul­gari­an En­ergy Act
Bul­gari­a's par­lia­ment has just ap­proved amend­ments to the Bul­gari­an En­ergy Act, which in­clude open­ing the free mar­ket to small power pro­du­cers, re­mov­ing power ex­port charges and man­dat­ing smart meters for in­dustry, that is bring­ing fur­ther lib­er­al­isa­tion to.
CMS Ex­pert Guide to Elec­tric Vehicles
25/04/2019
Up­com­ing changes for the un­der­ground re­sources sec­tor in Bul­garia
After al­most two years of an­ti­cip­a­tion, a new bill amend­ing and sup­ple­ment­ing the Bul­gari­an Un­der­ground Re­sources Act (URA) was pub­lished for dis­cus­sion and pub­lic con­sulta­tion.   The Bill is the res­ult of ef­forts by the Min­istry of En­ergy to provide com­pre­hens­ive.
1 September 2017
CEE Pub­lic Pro­cure­ment Tool­box for Rem­ed­ies
12/03/2019
Bul­garia re­starts nuc­le­ar power plant Belene tender
The much-an­ti­cip­ated re­start of the Nuc­le­ar Power Plant (NPP) Belene pro­ject is now a fact with the March 11 call for stra­tegic in­vestors on the web­site of Bul­gari­a's Na­tion­al Elec­tri­city Com­pany (NEC).
May 2018
CMS Pub­lic Pro­cure­ment Tool­box of Rem­ed­ies
Tool­box of rem­ed­ies in pub­lic award pro­ced­ures avail­able...
15/02/2019
An­nounce­ment of fi­nal feas­ib­il­ity study for Balkan gas hub delayed
The date for the re­lease of the Bul­gartrans­gaz EAD sponsored feas­ib­il­ity study has been changed.   Ini­tially sched­uled for Feb­ru­ary 28, Bul­gartrans­gaz has now is­sued a "hold off" no­tice for its round table to re­lease the fi­nal res­ults of the Feas­ib­il­ity Study.
17/07/2014
En­ergy Law in SE Europe
08/02/2019
Bul­gari­a's meas­ures to pro­mote com­pressed and li­que­fied nat­ur­al gas
In its bid to trans­pose Dir­ect­ive 2014/94/ЕС on the De­ploy­ment of Al­tern­at­ive Fuels In­fra­struc­ture, the Bul­gari­an Coun­cil of Min­is­ters ad­op­ted a na­tion­al policy frame­work (first draf­ted on 26 Janu­ary 2017 and amended in May 2018) for de­vel­op­ing a mar­ket for.