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Clifford Chance advised Rezolv Energy on the acquisition of 229MW solar plant development project in Bulgaria

3 August 2023

Clifford Chance advised Rezolv Energy on the acquisition of 229MW solar plant development project in Bulgaria

Clifford Chance is pleased to announce that it has provided legal support to Rezolv Energy, a subsidiary of Actis and a leading independent renewable energy producer in Central and Eastern Europe, in relation to its acquisition of a project to develop and operate a 229 MW solar power plant in Bulgaria.

The Bulgarian project, previously owned by YGY Industries JSC, will result in the creation of a solar power plant St. George, spanning 165 hectares and operating nearly 400,000 solar panels. The plant will annually produce around 13% of Bulgaria's current solar energy and supply power to commercial and industrial users. The project will create approximately 500 jobs during construction and offer employment opportunities for workers over the next 30+ years.

Rezolv Energy, backed by Actis, is making strides in the renewable energy sector. With over 2GW of clean energy planned for development in Romania, the company aims to become the leader of European renewables energy sector.

The Clifford Chance team advising on the transaction was led by Prague office's Managing Partner Alex Cook and Counsel Michal Jašek and further supported primarily by Associate Tomáš Procházka.

Clifford Chance cooperated with the Bulgarian law firm Boyanov&Co which provided advise on Bulgarian law matters.