CMS has advised Global Biomet on the EUR 50 million financing for the Aratiden PV project in Bulgaria granted by UniCredit Bulbank. CMS also advised on the project's two EPC contracts, with Green Solar Energy for substations and grid connection, and with Rashev & Co for the PV section.
Aratiden is an SPV of Global Biomet, a Bulgarian transportation and renewable energy company. Global Biomet operates 12 photovoltaic plants with a total capacity of over 18.5 megawatts in Bulgaria.
The financing comes following the successful licensing of the project by the Utility Regulator of Bulgaria, on which CMS assisted Global Biomet last year (as reported by CEE Legal Matters on June 9, 2023).
Back in 2021, CMS successfully represented Global Biomet in proceedings against the Ministry of Finance of the Republic of Bulgaria in a dispute related to the country's feed-in tariff (as reported by CEE Legal Matters on August 19, 2021) and, in 2020, helped the company settle a multi-million euro renewable energy dispute with the Sustainable Energy Development Fund (as reported by CEE Legal Matters on April 23, 2020).
The CMS team included Managing Partner Kostadin Sirleshtov, Counsel Borislava Piperkova, Senior Associate Elena Yotova-Yordanova, Junior Associate Lubomira Tanchovska, and Trainees Boris Kirov and Nia Ivanova
