CMS has advised Global Financial Consulting on the sale of the 25-megawatt greenfield Chernogor photovoltaic project to US investor Bulgaria Solar. Spasov & Bratanov advised Bulgaria Solar. Varadinov & Co reportedly advised the other sellers, Totally Green and Ki Energy.
The transaction involved the acquisition of the Enerfin 2 EOOD SPV, the company owning and developing the Chernogor project.
According to CMS, Bulgaria Solar was already active on the market, through its 2022 acquisition of Alfa Energy EAD, a Bulgarian company operating the 2.4-megawatt Yankovo PV project.
The CMS team included Managing Partner Kostadin Sirleshtov, Counsel Borislava Piperkova, and Associate Dian Boev.
The Spasov & Bratanov team included Partner Vassil Hadjov and Associate Vladimir Tashev.