Energy and Natural Resources

Penev LLP has a leading practice in the area of Energy and Natural Resources. Our firm has a team of experienced lawyers with a wide range of legal skills and practical knowledge helping the client understand the industry-specific issues and providing workable solutions. Clients value and appreciate the quality service we provide, our special expertise and commercial attitude.

Our expertise covers a full spectrum of services related to energy projects, green power, photovoltaic, wind, transmission of electricity, and to mineral, oil, and natural gas exploitation.

Penev LLP has actively participated in the drafting of the Energy Act and related secondary legislation under the USAID project.

Some of the services we provide include:

  • Regulatory Advice;

  • Due Diligence;

  • Project Development;

  • Analyzing Project Feasibility;

  • Handling Project Finance Matters and Tax Structuring;

  • Energy Regulation and Compliance.

Some representative highlights of our experience include:

  • we have locally advised Shah Deniz Consortium with regard to the acquisition of shares in Nabucco Pipeline International GmbH which was the company carrying out the Nabucco Gas Pipeline Project;
  • advice to Atomexportstroy on compliance matters in relation to the potential construction of Belene Nuclear Power Plant;
  • corporate and regulatory advice to Chevron regarding their local activities;
  • we have advised Enel S.p.A in relation to the following transactions and projects: (i) participation in the privatization procedure of three of Bulgaria’s largest thermopower plants located in Varna, Rousse, and Bobov dol; (ii) provision of advice in relation to a concession-granting procedure for natural gas supply in Trakiya and West region; (iii) advice on a project relating to renewable sources of energy; (iv) advice on Maritza East III project; and (v) ongoing legal advice on energy regulatory matters;
  • provision of advice in relation to the bundle transaction undertaken by Shell with respect to the sale of its LPG business in Bulgaria. The work included negotiating of various contractual arrangements, provision of legal assistance in all corporate matters, interrelations with the regulatory authorities;
  • legal and regulatory advice to CEZ on the activity of the State Energy and Water Regulatory Commission as well as legal advice with regard to an opened procedure for withdrawing the license;
  • advice to ERG Renew on a renewable (wind generators) project in Bulgaria;

  • advice to WES-Solar on the legal and commercial aspects of the energy industry in Bulgaria with respect to possible entering the market;
  • legal advice to Toshiba on the rehabilitation works contracts with the Bulgarian Energy Holding for Maritsa Iztok 2;
  • advice to Mitsui on regulatory matters;
  • preparation of an exhaustive due diligence-report for Enterprise Oil in relation to its participation in the concession procedure for obtaining oil and gas from the Black Sea;
  • advice to TEPCO/Mizuho Bank (Japan) for the privatization of several hydropower plants in Bulgaria;
  • member of the Consortium ABN AMRO - Clifford Chance - KPMG, bidding in the competition, organized by the Ministry of Energy and Energy Resources to act as an adviser regarding the privatization of the electricity distribution companies in Bulgaria;
  • our firm was chosen to advise the Delegation of the European Commission to Bulgaria and the World Wide Fund for Nature on their Danube-Carpathian Programme;
  • advice to Amoco on regulatory matters with regard to their potential entering the Bulgarian market;
  • advice to the USD 54 million project for the US Department of State involving the acquisition of land for the construction of the new US Embassy in Sofia;
  • we currently act for private investors on wind and photovoltaic energy projects advising on a wide range of regulatory, commercial and corporate issues, including, among others, electricity and power generation regulation, licensing regime, structuring, and implementation of joint venture projects and others;
  • advice and representation of a local engineering company on settlement under sub-contracting agreement with Worley Parsons on second nuclear power plant development in Bulgaria;
  • we currently act for a large UK investor on a project related to biomass supply in Bulgaria advising on a wide scope of regulatory, commercial and corporate issues and drafting supporting documentation;
  • Provision of advice to ADF (France) in a greenfield project in Bulgaria, construction and operation of wool-processing facilities;
  • acting for Black Sea Properties in a large greenfield project regarding the purchase of land and approval from state authorities of the construction project (infrastructure and construction project).