CMS, working with Ashurst, has advised Renalfa IPP on the development of its EUR 1.2 billion investment program in photovoltaic, battery electricity storage systems, and wind projects across Bulgaria, Hungary, North Macedonia, and Romania. The firm also advised on securing a EUR 315 million club loan facility led by the EBRD and backed by an InvestEU loss guarantee. DGKV, and reportedly A&O Sherman and PHH, advised the lenders.
According to DGKV, the lenders included EBRD, Blacksea Trade and Development Bank, OTP, NLB, UniCredit, and Kommunalkredit, as well as UniCredit Bulbank as Bulgarian security agent.
According to CMS, the Renalfa IPP platform, a joint venture between Renalfa Solarpro Group and Rgreen Invest, is developing a portfolio with approximately 1.6 gigawatts of generation capacity and 3.3 gigawatt-hours of BESS, of which more than 655 megawatts are operational and over 550 megawatts are under construction. Once fully online, the portfolio will generate 2.3 terawatt-hours of electricity annually, sufficient to power around 920,000 households and deliver green baseload products to CEE markets.
The CMS included Bulgaria-based Managing Partner Kostadin Sirleshtov, Partners Atanas Bangachev and Borislava Piperkova, Counsel Vaska Solakova, Senior Associates Elena Yotova–Yordanova, Lyuba Bozova-Peshovska, and Viktoriya Dimitrova, Associate Nikola Naydenov, Junior Associate Stoyana Petrova, and Trainee Niya Ivanova, Hungary-based Partners Peter Simon, Gabor Czike, and Jozsef Varady, Senior Counsels Zsofia Hermann and Zoltan Poronyi, Senior Associates Peter Deak and Laszlo Jokay, and Associates Mark Molnar, Nora Devenyi, Rebeka Erdosi, and Zsolt Zsurzsa, Romania-based Partner Varinia Radu, Senior Counsel Ramona Dulamea, Senior Associates Madalina Constantinescu, Raluca Diaconeasa, Alexandru Dumitrescu, and Catalin Vasile, and Associate Rares Crismaru, North Macedonia-based Partner Marija Filipovska Jelcic and Associates Aleksandar Kralevski, Martin Ivanov, Oliver Vidikov, and Aleksandar Josimovski, and Austria-based Partner Guenther Hanslik and Associates Wolfgang Hellsberg and Valentin Oelz.
The DGKV team included Partner Kaloyan Krumov, Senior Associates Tsvetelina Bayraktarova and Maya Mircheva, Associates Delyan Dzhurov, Emilia Mitroshanova, Yavor Genchev, and Teodor Filipov, and Trainee Kalina Damyanova.
