CMS has advised ACWA Power, Blackrock, and Crescent Capital on their sale of ACWA Power CF Karad PV Park and NOMAC Bulgaria, which operate the 60 MWp Karadzhalovo photovoltaic plant in Bulgaria, to Enery Development GmbH. Schoenherr advised the buyer on the deal.
CMS described the deal as “the largest renewable energy deal in Bulgaria" and reports that "it [is] also unique, as this is the first-ever disposal completed by ACWA Power.” In addition, CMS reports, "the deal took more than 12 months to complete, as it included complex refinancing of the existing project development financing."
CMS's team in Sofia included Managing Partner Kostadin Sirleshtov, Partner Atanas Bangachev, and Senior Associates Veliko Savov and Valentina Santambrogio.
Schoenherr’s team in Sofia included Managing Partner Alexandra Doytchinova, Partner Robert Bachner, Attorney Katerina Kaloyanova, and Associate Stela Pavlova.
Editor's Note: After this article was published Schoenherr informed CEE Legal Matters that its team also included, in Sofia, Partners Stefana Tsekova and Ilko Stoyanov, Attorneys Radoslav Chemshirov, Elena Todorova, Galina Petkova, and Silvia Ribanchova, and Associates Milena Gabrovska and Kristina Chakarova, and in Vienna, Partners Laurenz Schwitzer and Leon Kopecky and Associate Stefan Neuwirth.
In addition, Schoenherr informed CEE Legal Matters announced that Memery Crystal had acted as English counsel to Enery.