26.07.2020
Ilieva, Voutcheva and Co. Law Firm has the privilege to provide full legal support to one of the leading investors in renewable energy in Bulgaria, with regards to its project for the development and construction of a 60 MWp Photovoltaic power plant (PPP) located in South-west Bulgaria. This project is important not only because of its scale, but also due to its mission – to make a step forward to emission-free power generation. Our team was involved in the project from its very beginning as we were entrusted by the client with the due diligence of the land plots on which the PPP is about to be constructed.
Our assignment was quite challenging, insofar as it required a thorough review of numerous issues such as:
- the validity of the title deeds оf the land plots;
- the specific legal aspects of the spatial development plan and the related planning and construction permission issues thereto;
- the need for environmental impact assessment and other issues concerning the presence of various facilities and buildings with uncertain legal status.
The final due diligence report consisted of a comprehensive overview of the legal status of the land plots and a list of the relevant issues along with the best solution for each of the latter. We also prepared a risk assessment matrix by categorizing each legal issue as low, medium, or high risk. Thus, the client was able to correctly evaluate the risk of his investment.
Currently, the project is ongoing, but the first steps have been taken as the client has preliminary consent by the Municipality for the establishment of building rights and the respective spatial planning procedures have been initiated. We are confident in the forthcoming success of the project, as well as in its significance.
