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Kostadin Sirleshtov

Managing Partner
CEE Head of Energy & Climate Change

Contact
T +359 2 921 9942
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 & Climate Change 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 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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November 2019
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Tool­box of rem­ed­ies in pub­lic award pro­ced­ures avail­able across 35 jur­is­dic­tions. Down­load here!
27 May 2020
CMS Guide to Con­sequen­tial Loss Clauses in the En­ergy Sec­tor
03 June 2020
Bul­gari­an util­ity reg­u­lat­or is­sues new FiT and a de­crease in the ref­er­ence...
On 29 May, the Bul­gari­an En­ergy and Wa­ter Reg­u­lat­ory Com­mis­sion (EWRC) pub­lished its draft de­cision on the pref­er­en­tial prices for elec­tri­city from Re­new­able En­ergy Sources (RES), up­dated pref­er­en­tial...
November 2019
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15 May 2020
CMS Ex­pert Guide to Re­new­able En­ergy
22 May 2020
Bul­gari­a's Tervel Block tender un­der way un­til 31 Au­gust 2020
Eight months after the de­cision of the Bul­gari­an Coun­cil of Min­is­ters to open a tender pro­ced­ure for the Black Sea off­shore Tervel Block, the de­cision was fi­nally pub­lished in the Of­fi­cial Journ­al of...
November 2018
CEE Soil and Ground­wa­ter Con­tam­in­a­tion Guide
02 August 2018
CMS Ex­pert Guide to Elec­tric Vehicles
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07 April 2020
Draft bill on the Un­der­ground Re­sources Act filed to the Bul­gari­an par­lia­ment
Des­pite Bul­gari­a's state of emer­gency, on Fri­day 3 April Bul­gari­an law­makers filed a draft Bill to par­lia­ment for amend­ment and sup­ple­ment of the Un­der­ground Re­sources Act. The Min­is­ter of En­ergy pub­lished...
1 September 2017
CEE Pub­lic Pro­cure­ment Tool­box for Rem­ed­ies
30 March 2020
Pro­ced­ure for Bul­gari­a's Tervel Block tender now un­der­way
The tender pro­ced­ure for oil and nat­ur­al gas pro­spect­ing and ex­plor­a­tion in Bul­gari­a's off­shore Tervel Block area (pre­vi­ously known as the Teres Block) is now un­der­way after the tender­'s re­cent pub­lic­a­tion...
17/07/2014
En­ergy Law in SE Europe