CMS has advised Rezolv Energy on the licensing of its 229-megawatt St. George photovoltaic project before the Bulgarian Energy and Water Regulatory Commission.
Rezolv Energy is a subsidiary of Actis, a sustainable infrastructure investor.
According to CMS, “the project, which is planned to start full production by May 31, 2025, is the largest foreign investment in the Bulgarian renewable energy sector to date. Following the thorough assessment of the Bulgarian Energy and Water Regulatory Commission, the St. George project is considered 'financially viable and economically feasible and the owner has the necessary financing capabilities to complete it.' St. George will comprise nearly 400,000 solar panels and, with an average annual power generation of 313 gigawatt-hours, it will produce the equivalent of 13% of Bulgaria’s currently installed solar power.”
Back in 2023, CMS advised on YGY Industries’ sale of the 229-megawatt solar plant to Rezolv Energy (as reported by CEE Legal Matters on July 28, 2023).
The CMS team included Sofia Managing Partner Kostadin Sirleshtov, Counsel Borislava Piperkova, Senior Associate Elena Yotova-Yordanova, and Trainee Lyubomira Tanchovska.