CMS has successfully collected the feed-in tariff from the Republic of Bulgaria in favor of Solar R1, Solar RAS, and Solar Group Systems following various litigation rounds extending over seven years.
Solar R1, Solar RAS, and Solar Group Systems are Korean renewable energy investors in Bulgaria.
Earlier this year, CMS has been successful in other cases involving the feed-in tariff, including representing Bezmer Energy in a dispute against the Ministry of Finance of the Republic of Bulgaria (as reported by CEE Legal Matters on January 7, 2021), successfully representing Philicon-97 (as reported on June 16, 2021), and Global Biomet (as reported on August 19, 2021).
CMS has also advised on the refinancing of Solarian Holdings’ portfolio, which includes Solar R1 and Solar RAS, earlier this year (as reported on August 2, 2021).
Last year, CMS had advised Solarian Holdings on the acquisition of a 5-megawatt photovoltaic power plant from FEC Perun (as reported on May 28, 2020) and the acquisition of a 2.25-megawatt photovoltaic power plant from Julian Torchanov and Mat Ltd. (as reported by CEE Legal Matters on August 21, 2020), both located in Bulgaria.
The CMS team was led by Sofia Managing Partner Kostadin Sirleshtov and included Senior Associate Borislava Piperkova, Associate Elena Yotova-Yordanova, and Trainee Diyan Georgiev.