CMS Sofia advises UniCredit Bulbank and Eurobank Bulgaria on EUR 74 million financing for a battery energy storage project in Bulgaria

CMS Sofia acted as the lead legal advisor to UniCredit Bulbank (as Bookrunner and Coordinator) and Eurobank Bulgaria in connection with the approx. EUR 74 million project financing of a battery energy storage system in Bulgaria (BESS).

The financing will enable the construction and operation of a new BESS project, with a capacity of 360 MWh. The BESS will be located near the city of Cherven Bryag. The project is a significant step forward in developing Bulgaria’s renewable energy infrastructure and transitioning to a more sustainable energy mix. 

CMS provided comprehensive legal support throughout all stages of the transaction, from initial due diligence and structuring and negotiating financing documentation to signing, ensuring a smooth and efficient process for all parties involved.

The UniCredit Bulbank team was led by Dimitar Shalamanov and Ivanina Petrova from Project & Structured Finance with Yordanka Pavlova and Mariya Kostadinova from Corporate Coverage lending side.

The Eurobank Bulgaria team was led by Milen Ditsov and Krum Ivanov from Project & Structured Finance Department.

The CMS Sofia team consisted of Antonia Kehayova, Desislava Anastasova, Anna Philcheva, Dimitar Zwiatkow, Konstantin Altandzhiyski, and Ivan Gergov.