Boyanov & Co has advised ContourGlobal Maritsa East 3 on financing of a 500-megawatt-hour standalone battery energy storage system to be constructed on part of the site of the Maritsa East 3 Thermal Power Plant. DGKV advised DSK Bank as the lender.
According to Boyanov & Co, the financing supports the development of a large-scale energy storage facility forming part of ContourGlobal’s broader transition strategy toward low-carbon and renewable energy solutions. The BESS facility is fully operational and participates in both the day-ahead and intraday segments of Bulgaria’s electricity market. The project received financing under the NextGenerationEU program via Bulgaria’s National Recovery and Resilience Plan.
According to DGKV, the financing was aligned both with the ESG criteria of the lender and its parent company OTP Bank, as well as with the financing framework of KKR, which owns the majority stake in ContourGlobal Maritsa East 3.
The Boyanov & Co team included Partners Damian Simeonov and Alexander Chatalbashev and Principal Associate Ralitsa Nedkova.
The DGKV team included Partners Milan Pandev and Kaloyan Krumov, Counsel Tsvetelina Bayraktarova, and Senior Associate Maya Mircheva.
Editorial Note: After this article was published, it was updated to correctly list DSK Bank as acting as the lender on the financing.
