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CMS Advises Global Biomet on EUR 50 Million Financing and Two EPCs for Aratiden PV Project in Bulgaria

CMS Advises Global Biomet on EUR 50 Million Financing and Two EPCs for Aratiden PV Project in Bulgaria

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CMS has advised Global Biomet on the EUR 50 million financing for the Aratiden PV project in Bulgaria granted by UniCredit Bulbank. CMS also advised on the project's two EPC contracts, with Green Solar Energy for substations and grid connection, and with Rashev & Co for the PV section.

Aratiden is an SPV of Global Biomet, a Bulgarian transportation and renewable energy company. Global Biomet operates 12 photovoltaic plants with a total capacity of over 18.5 megawatts in Bulgaria.

The financing comes following the successful licensing of the project by the Utility Regulator of Bulgaria, on which CMS assisted Global Biomet last year (as reported by CEE Legal Matters on June 9, 2023).

Back in 2021, CMS successfully represented Global Biomet in proceedings against the Ministry of Finance of the Republic of Bulgaria in a dispute related to the country's feed-in tariff (as reported by CEE Legal Matters on August 19, 2021) and, in 2020, helped the company settle a multi-million euro renewable energy dispute with the Sustainable Energy Development Fund (as reported by CEE Legal Matters on April 23, 2020).

The CMS team included Managing Partner Kostadin Sirleshtov, Counsel Borislava Piperkova, Senior Associate Elena Yotova-Yordanova, Junior Associate Lubomira Tanchovska, and Trainees Boris Kirov and Nia Ivanova

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

Firm's website.