CMS Sofia advises on EUR 40 million project financing of major renewable energy development in Bulgaria
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CMS Sofia acted as lead legal advisor to United Bulgarian Bank (part of the KBC Group) and the sponsor Solaris Parks, a leading Bulgarian renewable energy developer, in connection with the project financing of a significant renewable energy initiative in Bulgaria, combining three photovoltaic (PV) power plants and a battery energy storage system (BESS).
The financing package of EUR 40 million will enable the construction and operation of a new 60 MWp / 40 MW AC solar power plant, integrated with a 53.7 MW BESS and an initial storage capacity of 107.33 MWh. This project represents a key milestone in advancing Bulgaria’s renewable energy infrastructure and transitioning toward a more sustainable energy mix.
CMS provided comprehensive legal support throughout all stages of the transaction — from initial due diligence, through the structuring and negotiation of financing documentation, to financial close — ensuring a smooth and efficient process for all parties involved.
The CMS Sofia team was led by Partner Dimitar Zwiatkow and supported by the Senior Associate, Konstantin Altandzhiyski.
