CMS assisted Renalfa IPP, a Vienna based developer and independent power producer established as a JV between Renalfa Solarpro Group GmbH and the French infrastructure fund manager RGREEN INVEST, on the successful development of its EUR 1.2bn investment programme in photovoltaic (PV), battery electricity storage systems (BESS) and wind projects with joint capacity of around 1.6 GW of generation assets and 3.3 GWh BESS, located in Bulgaria, Hungary, North Macedonia and Romania, of which more than 655 MW are already operational and more than 550 MW are in construction.
Once fully operational, the portfolio will deliver 2.3 TWh of green electricity annually to power 920 000 households and improve grid stability. The project allows Renalfa IPP to start offering green baseload products to the CEE market for the first time. The EUR 315m EBRD-led club loan facility, signed on 23 July 2025 and backed by InvestEU loss guarantee will play a pivotal role in advancing the decarbonization strategy across CEE.
The CMS team was led by Kostadin Sirleshtov, Office Managing Partner for CMS Bulgaria and Head of Energy, Projects and Construction in CEE, Atanas Bangachev, CMS Partner and Head of Corporate at CMS Sofia, and Borislava Piperkova, CMS Partner and Head of Renewables at CMS Sofia. The CMS team also included Vaska Solakova, Elena Yotova–Yordanova, Lyuba Bozova-Peshovska, Viktoriya Dimitrova, Nikola Naydenov, Stoyana Petrova, Niya Ivanova (all CMS Bulgaria); Peter Simon, Gabor Czike, Jozsef Varady, Peter Deak, Laszlo Jokay; Mark Molnar; Nora Devenyi; Rebeka Erdosi, Zsofia Hermann, Zoltan Poronyi, Zsolt Zsurzsa (all CMS Hungary); Varinia Radu, Ramona Dulamea, Madalina Constantinescu, Raluca Diaconeasa, Alexandru Dumitrescu, Catalin Vasile , Rares Crismaru (all CMS Romania). The CMS team also included members of CMS Austria and CMS North Macedonia.
