Schoenherr has advised Enery Element on the sale of its 50% stake in Dunav Solar Plant, the developer of the Gabare photovoltaic project in northwest Bulgaria, to OMV Petrom, as part of a 50-50 joint venture between the two companies. Simultaneously, Enery Element transferred the remaining 50% of its shares to Enery Power Holding.
According to Schoenherr, the Gabare PV project, one of the largest integrated photovoltaic and battery storage projects in Southeast Europe, is expected to reach a capacity of 400 megawatts, with the potential integration of a Battery Energy Storage System of up to 600 megawatt-hours. OMV Petrom and Enery are jointly investing approximately EUR 200 million into the project by 2027. Commercial operations are slated to begin the same year, with OMV Petrom entering a 10-year Power Purchase Agreement to secure around half of the electricity output.
The Schoenherr team included Partners Robert Bachner and Georgiana Badescu and Attorney at Law Katerina Kaloyanova-Toshkova.
Schoenherr did not respond to our inquiry on the matter.
