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CMS and Schoenherr Advise on Verila Solar Park 2's EUR 63 Million BESS Financing

Bulgaria
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CMS has advised Verila Solar Park 2 on approximately EUR 63 million in project financing from Raiffeisen Bank International and UniCredit Bulbank for the development of a battery energy storage system in Bulgaria. Schoenherr advised the lenders.

Verila Solar Park 2 is part of 360 Energy.

According to CMS, the financing will support the construction and operation of a new BESS project with a planned capacity of approximately 360 megawatt-hours. The facility will be located near Dupnitsa.

The CMS team included Partners Ivan Gergov and Dimitar Zwiatkow, Senior Associate Konstantin Altandzhiyski, and Associate Anna Philcheva.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

Firm's website.