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. 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. Clients value and appreciate the quality service we provide, our special expertise and commercial attitude. Penev LLP has actively participated in the drafting of the Energy Act and related secondary legislation under the USAID project.

Clients in the Energy and Natural Resources sector include: EnelSpA, ERG Renew (Italy), TEPCO, Mizuho Corporate Bank (Japan), Vivendi, Berliner WasserBetriebe, Marubeni, ABN Amro, UK, Atomexportstroy (Russia), ADF (France), Kremikovtzi AD, United States Department of State, Tishmann International Management (UK), Heitmann Real Estate Investment Management, Mitsubishi, Black Sea Properties and many others

Some of the services we provide include:

Regulatory advice;

Penev LLP lawyers are known for their ability to handle complex regulatory issues and to provide comprehensive regulatory advice. We work to find efficient solutions to face the challenges of the energy market. We are ready to assist, by providing counselling on specific issues or projects, developed in compliance with EU and national energy regulations.
We provided a full spectrum of legal advice in relation to various transactions to EnelS.p.A, the largest power company in Italy and Europe’s second listed utility by installed capacity producing, selling electricity and gas across Europe, North and Latin America. Legal services were provided within the period 2004 – 2007 in relation to the following transactions and projects: (i) participation in the privatization procedure of three of Bulgaria’s largest thermo power plants located in Varna, Rousse and Bobovdol; (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. We advised a group of financial institutions with regard to €325 million secured guaranteed notes issued by Bulgaria Steel Finance B.V. and guaranteed by Kremikovtzi AD.
We assisted TEPCO and Mizuho Corporate Bank (Japan) on energy regulatory matters and in relation to potential acquisition of Hydro Power Plants and wind generators in Bulgaria;
Provision of advice to Enterprise Oil in relation to regulatory matters on exploration of oil.

Due diligence;

Due diligence is essential both to executing successful transactions and protecting our clients' businesses. Our lawyers are experienced in providing comprehensive due diligence advice to companies and investors and providing concise, conclusive and business-oriented reports.
We represented a group of bondholders in the preparation of legal due diligence report on Kremikovzi AD.

Project development;

We have a team of experienced transactional lawyers with a comprehensive understanding of the energy industry. Together with our team of tax and regulatory professionals, we have assisted clients in the development of their energy projects.
We currently act for private investors on wind and photovoltaic energy projects, advising them on a wide range of regulatory, commercial and corporate issues, including, among others, electricity and power generation regulation, the licensing regime, structuring and implementation of joint venture projects and others.
We provided a full spectrum of legal advice to ADF (France) on their project in Bulgaria on the construction and operation of wool-processing facilities. The projects included the acquisition of suitable land plots and the construction of wind power plants, drafting and negotiating contracts for supply and installation of wind turbines, and the service and availability agreement, as well as representation before state and private parties.
We acted for Mitsubishi on a renewable energy (wind generators) project in Bulgaria. The work included drafting and negotiating contracts for the supply and installation of wind turbines, service and availability agreements, as well as representation before state and private parties.
We advisedERG Renew (Italy) on a renewable energy (wind generators) project in Bulgaria.

Analyzing project feasibility;

We apply a comprehensive, commercial approach to each project, taking into consideration all legal and tax issues. We are experienced in advising on structuring, implementation, financing and operation of projects and on their feasibility.
We currently act for private investors on wind and photovoltaic energy projects advising them on a wide range of regulatory, commercial and corporate issues, including, among others, electricity and power generation regulation, the licensing regime, structuring and implementation of joint venture projects and others.
We advised Atomexportstroy (Russia) on regulatory matters in relation to the potential construction of a nuclear power station in Belene.
Provision of advice to ADF, France on their greenfield project in Bulgaria on the construction and operation of wool-processing facilities.

Handling project finance matters and tax structuring;

Handling project finance matters and tax structuring requires commitment, knowledge, experience and a high degree of specialization to successfully navigate transactions. In the field of project finance and tax structuring, Penev LLP lawyers have an in-depth understanding of the market, the regulatory environment and relevant tax laws. Our practice focuses on representing utilities and renewable energy developers in all aspects of power project licensing, obtaining permits, financing, construction and operations.
We advised Atomexportstroy (Russia) on regulatory matters in relation to the potential construction of a nuclear power station in Belene.

Energy Regulation and Compliance;

We have a team of experienced lawyers that have a comprehensive understanding and expertise in the area of power regulation and compliance. We counsel clients in determining the potential of various regulatory and policy initiatives and represent them on compliance matters.
We acted for Mitsubishi on a renewable energy (wind generators) project in Bulgaria.
We acted for Black Sea Properties with respect to a large greenfield project regarding the purchase of land.
We advised ABN Amro, UK on the legal complexities of the tender process, organized by the Ministry of Energy and Energy Resources for selecting consultants for privatization of the electricity distribution companies in Bulgaria