Energy and natural resources

Boyanov & Co’s energy practice is one of the busiest departments of the firm. 

The energy practice of Boyanov & Co is one of the busiest departments of the firm. Its active involvement in the energy field started as of the very inception of the liberalisation process in this sector. Therefore, the firm’s history of engagements reflects the history of the liberalised energy market in Bulgaria.

Boyanov & Co has advised clients in relation to major oil and gas infrastructure projects such as the Burgas-Alexandroupolis pipeline project, the Greece-Bulgaria Interconnector and the South Stream project and has been involved in all major developments in the local nuclear sector including the rehabilitation of the existing Kozloduy Nuclear Power Plant and the projects for the building of new nuclear facilities — the Belene nuclear power plant and the new Unit 7 at the Kozloduy NPP site.

The firm was involved in the process of privatisation of some of the largest power generation facilities and the electricity distribution sector in Bulgaria, including the projects for construction of new and the rehabilitation of existing lignite coal burning power plants and the privatisation of the electricity distribution network as well as the privatisation of hydropower plants, district heating plants and other generation facilities.

Recently, the firm has been actively working on several large mandates for a strategic foreign investor involving regulatory and litigious matters evolving from the unstable regulatory environment and structural and financial difficulties of the local electricity sector.

The energy practice currently covers all areas that focus the interest of investors and government, among which are:

  • large energy infrastructure projects — the firm has advised on most of the international projects crossing Bulgaria including on the Burgas-Alexandroupolis oil pipeline project development, on the structuring of the NABUCCO gas pipeline project, on regulatory aspects of the IGB and on various matters related to the recent South Stream project implementation;
  • nuclear energy — the firm is uniquely positioned and has advised on all local projects in this sector, including the rehabilitation and attempts to structure transactions involving the operation and management of the existing Kozloduy Nuclear Power Plant, the complicated Belene project for construction of a new nuclear generation facility and the recent project for construction of a new nuclear unit using the Westinghouse AP1000 technology at the site of Kozloduy NPP;
  • electricity sector — the firm has been actively involved in the privatisation and restructuring of the sector and is currently advising a foreign investor on major regulatory and commercial contentious and litigation issues involving the client’s Bulgarian electricity supply and transmission businesses; and
  • renewable energy — the firm has an excellent track record in advising on a large number of wind, photovoltaic and biomass energy projects for foreign investors, including due diligence and acquisition of projects, structuring of joint development agreements and working on project development, contractual and regulatory disputes.

Natural resources
The firm has an extensive experience in advising clients on natural resources projects.

Since 1995, we have worked for some of the major players in the local mining industry advising on corporate, commercial and regulatory issues related to their business, including, among others, a greenfield project for the construction and operation of a flotation factory, procedures for the awarding of exploration permits and extraction concessions and the expansion of existing concessions.

We have advised on various oil and gas exploration and extraction projects, including on the largest operating local natural gas deposit.

Other aspects of our expertise include advising clients in the fields of construction materials, gravel and sand deposit exploitation, mineral water concessions and others.