Energy Law & Natural Resources

Georgiev, Todorov & Co. has extensive experience in the field of energy law,  serving both Bulgarian and international clients for various legal issues. Energy-related advice is among the firm’s key specialisms and our team is consistently recognized for its work by international legal publications such as The Legal 500. Another independent international legal directory – Chambers Europe consistently distinguishes our senior associate Mariya Derelieva as a recognized practitioner in the energy sector for Bulgaria in 2017, 2018 and 2019, which also proves the quality of the team.

Moreover, the team’s in-depth knowledge of the regulatory framework and the excellent litigation practice, makes Georgiev, Todorov & Co. a reliable and trusted partner, who is highly valued by its clients.

Our law firm has successfully consulted various clients on major energy infrastructure and development projects with a strategical significance for the Bulgarian energy sector. Legal representation for electricity, renewable and cogeneration producers, gas and oil refineries and oil producers, and to natural resources companies, is provided both in regulatory and court proceedings.In addition to the clients from the energy sector, there are some clients from the construction, automotive and transport industries, which our team assists in their energy-related issues.

Experience:

  • Georgiev, Todorov & Co successfullyrepresented the Union of the producers, consisting of Green Energy, Union Hydro, Hydroenergy, Davidkovo-2, Varuna, Delectra, Ecoenergy, etc. in an administrative case of a significant importance for our client before the Supreme Administrative Court. The Supreme Administrative Court repealed the decision of the Energy and Water Regulatory Commission and gave instruction regarding the application of the law. The Court stressed that the Commission is not allowed under Bulgarian and EU law to introduce discriminatory criterion, when approving feed-in-tariffs of renewable energy producers during the 20-year promotion period. Due to the successful outcome, we are currently assisting a group of 47 energy producers (hydropower plants) in high value administrative proceedings before the Energy and Water Regulatory Commission and for structuring the relations with the supply companies, which purchase the produced energy at feed-in-tariffs.
  • Our legal team advised the Bulgarian Stock Exchange Sofia on the acquisition of the Independent Bulgarian Energy Exchange (IBEX). IBEX holds a 10-year license by the State Energy and Water Regulatory Commission to organizing a Power Exchange for electricity in Bulgaria.  The deal resulted from the undertakings of the Bulgarian Government in connection with а case in front of the European Commission to separate IBEX from the corporate structure and the assets of the Bulgarian Energy Holding (BEH).On behalf of the Bulgarian Stock Exchange –Sofia our legal team has conducted a thorough due diligence of IBEX, analyzing its corporate structure, legal obligations, contractual relationships with third parties and examining its assets, licenses and intellectual property rights. We also reviewed the ongoing judicial disputes and the possible legal consequences from them.
  • Our lawyers have successfully consulted Mini Otkrit Vagledobiv EAD (a coal mining company) during the privatization procedure of Thermal Power Plant Bobov Dol, which is one of the most important privatization transactions in the sector in Bulgaria for the last decade, amounting to over EUR 100 000 000.Recently, we represented Thermal Power Plant Bobov Dol in Sofia Administrative Court for a claim for monetary damages in the form of lost income incurred by client due to unlawful regulatory acts of the Energy and Water Regulatory Commission, where our position was approved and we won the case.
  • Georgiev, Todorov & Co. assisted Energoconsult during the development of a wind farm project with a capacity of approximately 100 MW in the Dobrich region (North Bulgaria) with a cost of over EUR 10 billion, and representing the company in its negotiations with two foreign investors – Iberdrola, Spain, and Efacec, Portugal.
  • Over the years we have also consulted Mitsui & Co. and Toshiba regarding the rehabilitation of the Thermal Power Plant Maritsa Iztok 2 and ENEL regarding the rehabilitation of the Thermal Power Palnt Maritsa Iztok 3.
  • Our firm has been appointed as the local legal advisor of Atomstroy Export JSC against the state-owned Bulgarian National Electricity Company in the major arbitration case “Belene” nuclear power plant, where the award was in favour of our client.

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