Battery Energy Storage Systems in the Greek Electricity Market
October 2024
Gus Papamichalopoulos, Senior Partner, Konstantinos Varelas, Senior Associate, and Iakovos Kouloris, Senior Associate
Kyriakides Georgopoulos Law Firm
In view of the increasing interest by national and international stakeholders in the developing market of the Battery Energy Storage Systems (hereinafter “BESS”) in Greece, KG Law Firm’s Energy practice breaks down the major elements related to the compensation of BESS projects.
Q: Is the BESS market developed in Greece?
A: In view of the state of the Greek energy landscape (grid congestion, high penetration of PVs), during…
The New Framework for Net Billing in Greece
September 2024
Gus J. Papamichalopoulos, Senior Partner, Antonis Koumpias, Senior Associate, and Melina Kolovetsiou, Associate
Kyriakides Georgopoulos Law Firm
Introduction
The installed capacity of Renewable Energy Sources (hereinafter, "RES"), especially from rooftop solar photovoltaic projects (hereinafter, "PVs"), has seen a rapid increase in recent years, driven by a significant drop in the cost of solar power technology. In addition, electricity price volatility has driven prices on the Day-Ahead Market to peak at up to €900/MWh, also impacting retail prices. This volatility, driven…
The AI Surge: Balancing Energy Demand with Energy Innovation
June 2024
Gus J. Papamichalopoulos, Senior Partner, Antonis N. Koumpias, Senior Associate, and Petros Fotakis, Junior Associate
Kyriakides Georgopoulos Law Firm
As the world witnesses a rapid expansion in artificial intelligence (AI) applications, the energy sector is poised to undergo significant transformations. The integration of AI into various products and services will intensify energy demand, a trend that is expected to persist and grow, while AI offers opportunities for optimizing various aspects of the energy industry.
Lately, we have seen the first attempts to regulate the entry…
KG Law Firm Advises Starvert Energy on the Development of its Greek Pipeline of Large-Scale PV Projects Combined with Battery Storage
May 2024
Kyriakides Georgopoulos Law Firm’s Energy & Infrastructure team has announced that it is acting for STARVERT Energy for the development of their Greek portfolio of photovoltaic parks combined with battery storage. Starvert’s Greek portfolio includes two projects of 300 MW each, located in Farsala, Thessaly, and Fokis, Central Greece. Recently, STARVERT Energy expanded its portfolio to a total of 900 MW, with the addition of two more PV parks, 125 MW and 175 MW, situated in Erythres, Attica, and Boeotia. The company aims to further develop its Greek assets in the near future.
KG…
DTB Represented Talan Group in the Sale of 60% of Shares in SOLVIS
May 2024
Divjak Topic Bahtijarevic & Krka represented Talan Group (Talan) in sale of 60% of shares in Solvis, the largest Croatian producer of solar panels and developer of power plants, to Advance Capital Partners (ACP), the largest regional private equity fund based in Slovenia. Completion of the transaction is subject to customary regulatory approvals and other conditions precedent.
This strategic partnership between ACP and Talan will enable the implementation of joint development plans, the internationalisation of business and the development of new green energy solutions, which will…
KG Acted as EQT Investments Group’s Local Counsel on Its Public Offer to Acquire OX2
May 2024
On Monday, 13 May 2024, EQT Infrastructure VI, a private equity firm, made a public offer to buy Swedish renewable energy group OX2, listed in the Stockholm Stock Exchange, for SEK 16.4 billion (USD 1.51 billion) through Otello BidCo AB. The offer is conditional to its acceptance by the majority of OX2’s shareholders.
KG Law Firm’s Energy Infrastructure team was appointed by Vinge to act as the Greek legal counsel for EQT Investments group in the context of carrying out legal due diligence of the Greek assets of OX2. The team was led by Gus J. Papamichalopoulos, Senior Partner, with…
BDK Advokati Advised Enlight Renewable Energy Ltd. and Enlight K-2 Wind on the Development and Financing of the Pupin Wind Farm
March 2024
BDK Advokati successfully advised Enlight Renewable Energy Ltd. and Enlight K-2 Wind on the development and financing of the 94.4MW Pupin Wind Farm, slated for construction in the municipality of Kovacica.
The Pupin Wind Farm emerged as one of the successful bidders in last year’s market premium auction and is the first one to secure project financing. Situated adjacent to the operational 104.5 MW Kovačica Wind Farm, also developed by Enlight Renewable Energy, these projects will collectively position Enlight Renewable Energy as one of the largest independent power producers in…
BOYANOV & Co. Continues its Series of Advising on the Construction of Large Photovoltaic Power Plants in Bulgaria
March 2024
BOYANOV & Co. advised a syndicate of UniCredit Bulbank, United Bulgarian Bank, Eurobank Bulgaria, and Raiffeisen Bank International on the financing of the construction and operation of a 160 MW photovoltaic power plant in Bulgaria (in the Maglizh Municipality).
The PV park is developed by Belozem Solar Park 2 OOD, which S Solar and Syzygy own. The minority shareholder in S Solar is Starcom – one of the main shareholders in Eurohold Bulgaria. Eurohold Bulgaria is one of the largest listed companies in Bulgaria and controls Electrohold Bulgaria – a holding company of the…
BDK Advokati Advises Alcazar Energy on the Acquisition of the Windfarm Project “Bijela” in Montenegro
October 2023
BDK Advokati advised Alcazar Energy, a sustainable infrastructure fund, on the acquisition of the 118 MW wind farm project “Bijela” in Montenegro.
BDK team was led by Senior Partner Luka Popovic. Partner Milan Dakic provided construction-related advice.
This is the first wind farm project for Alcazar Energy in the Western Balkans and we are happy that we had the opportunity to assist them in entering the market.
Kyriakides Georgopoulos Law Firm Advised Lightsource bp
September 2023
Kyriakides Georgopoulos Law Firm’s Energy Infrastructure team acted as legal advisor of Lightsource bp, in the conclusion of an agreement with HELLENiQ Renewables, for the sale of a PV portfolio in the region of Kozani with an aggregate capacity of up to 180 MW. The sale of the projects will be completed gradually upon the start of commercial operations. KG’s involvement was continuous in supporting the seller, LIGHTSOURCE RENEWABLE ENERGY GREECE HOLDINGS (UK) LIMITED, throughout the buyer’s due diligence process and the drafting, negotiation, and finally execution of the…
BOYANOV & Co. Аdvised Rezolv Energy on the Acquisition of the Rights to Build and Operate a 229 MW Solar Plant
August 2023
BOYANOV & Co. advised Rezolv Energy on the acquisition of the rights to build and operate a 229 MW solar plant in Silistra Municipality, northeastern Bulgaria. Rezolv Energy is an independent renewable energy producer focused on Central and Southeastern Europe which was launched last year by Actis, a leading global investor in sustainable infrastructure.
Named ‘St. George,’ the project is set to become the largest solar plant in Bulgaria, with construction beginning later this year and completion expected in early 2025. The St. George plant will be constructed on the site…
Kyriakides Georgopoulos Law Firm Аdvised Blue Grid Gas & Power
June 2023
Kyriakides Georgopoulos Law Firm advised Blue Grid Gas & Power on the acquisition through its affiliate entity, Bluefuel, being a member of Molgas Energy Holding, of a biogas production unit "Biomesti" with an installed capacity of 999 kW (for which a capacity increase of 999 kW is planned, i.e. a total of 1,998 MW), based in Mesti, Evros.
KG supported Blue Grid Gas & Power in various aspects of the deal such as the performance of legal due diligence, provision of advice on deal structuring, corporate support on various aspects, and drafting and negotiation of the transaction…
