CMS Sofia acted as the legal advisor to Verila Solar Park 2 (part of the renewable energy developer 360 Energy) in connection with the approx. EUR 63 million project financing of a battery energy storage system in Bulgaria (BESS), provided by Raiffeisen Bank International and UniCredit Bulbank.
The financing will enable the construction and operation of a new BESS project, with a capacity of approx. 360 MWh. The BESS will be located near the city of Dupnitsa. 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 lenders were advised by Schoenherr in Austria and Bulgaria.
The CMS Sofia team consisted of Ivan Gergov, Dimitar Zwiatkow, Konstantin Altandzhiyski, and Anna Philcheva
