Aratiden Engages CMS for Major Battery Storage Project
Deal News | May 20, 2025 | CEE Legal Matters
The article reports on CMS's advisory role to Aratiden in the development of a co-located battery storage project. The project involves a 40-megawatt/82.58 megawatt-hours facility integrated with a 100-megawatt photovoltaic plant. Additionally, CMS advised Aratiden on an EPC agreement with Optimal Energy Solutions JSC, with Kirov and Bratuleva directing Optimal Energy Solutions JSC. In 2024, CMS guided Global Biomet on EUR 50 million financing for the Aratiden PV project in Bulgaria, following the project's licensing by the Bulgarian Utility Regulator, with ongoing legal support from CMS dating back to 2020 involving multiple disputes. CMS's legal team consisted of Managing Partner Kostadin Sirleshtov, Partner Borislava Piperkova, and senior associates Diyan Georgiev and Elena Yotova-Yordanova, alongside trainee Boris Kirov.
Sectors
- Renewable Energy
- Legal Services
Geography
- Bulgaria – The article discusses projects and legal activities taking place within Bulgaria, including the Aratiden PV project and its financing and licensing processes.
Industry
- Renewable Energy – The article focuses on the development of a co-located battery storage project paired with a photovoltaic plant, indicative of the renewable energy sector.
- Legal Services – CMS, a law firm, is providing legal advisory services for transactions and agreements in the renewable energy sector, such as EPC contracts and financing.
Financials
- 40-megawatt/82.58 megawatt-hours – Capacity of the new battery storage project developed by Aratiden.
- 100-megawatt – Capacity of the existing photovoltaic plant paired with the battery storage.
- EUR 50 million – Financing amount obtained by Global Biomet for the Aratiden PV project.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Aratiden | Target Company | Company | The company developing the battery storage project with the assistance of CMS. |
| Optimal Energy Solutions JSC | EPC Partner | Company | Partnered with Aratiden for the EPC agreement in the battery storage project. |
| CMS | Legal Advisor | Company | A law firm advising Aratiden on the battery storage project and related agreements. |
| Global Biomet | Client | Company | A company previously advised by CMS on financing and legal disputes related to renewable energy projects in Bulgaria. |
| Kostadin Sirleshtov | Managing Partner | Person | Part of the CMS team advising Aratiden. |
| Borislava Piperkova | Partner | Person | Part of the CMS team advising Aratiden. |
| Diyan Georgiev | Senior Associate | Person | Part of the CMS team advising Aratiden. |
| Elena Yotova-Yordanova | Senior Associate | Person | Part of the CMS team advising Aratiden. |
| Boris Kirov | Trainee | Person | Part of the CMS team advising Aratiden. |