CMS has advised OTP Bank and its DSK Bank Bulgarian subsidiary on their EUR 17.3 million joint refinancing of Energy and Development Company's 14.2-megawatt operational photovoltaic power plant in Bulgaria.
The Energy and Development Company was created in 2004 and operates in the construction and exploitation of renewable energy sources, production and sale of electricity from natural and other sources, commercial representation, and consulting services.
According to CMS, “the solar project operates under the contracts-for-premium scheme, introduced by Bulgaria in order to replace the feed-in tariff under the Second Renewable Energy Act.”
CMS’s team was led by Managing Partner Kostadin Sirleshtov and included Senior Associate Borislava Piperkova.