Our member firm BOYANOV & Co. has advised ContourGlobal Maritsa East 3 AD on a financing for the construction of a 500 MWh standalone battery energy storage system (BESS) located in part of the site of the thermal power plant Maritsa East 3. This project is part of the strategy of ContourGlobal for a transition to green energy.
BOYANOV & Co. advised ContourGlobal in complex negotiations of the finance documents (facility agreement and security documents) and assisted in the signing and closing of the financing.
The BESS plant is now fully operational and actively engaged in both the day-ahead and intraday segments of the national electricity market. It contributes to enhanced power dispatch, better balancing of electricity supply and demand, and smoother integration of renewable energy sources, while also strengthening overall grid stability and flexibility.
The ContourGlobal Maritsa BESS project received financing from the NextGenerationEU initiative via Bulgaria’s National Recovery and Resilience Plan.