Wolf Theiss advises OMV Petrom S.A. on acquisition and joint venture for hybrid PV/BESS (400MW) project in Bulgaria

Sofia, 22 October 2025 – Wolf Theiss advised OMV Petrom S.A., the largest integrated energy companies in South-Eastern Europe, on the acquisition of a 50% shareholding and the formation of a joint venture with Enery Power Holding GmbH for a 400 MW photovoltaic power plant and battery energy storage system (BESS) project in Bulgaria.

Developed by Austria-based renewable energy company Enery Element GmbH, the project is among the largest of its kind in Bulgaria and reflects OMV Petrom’s continued regional investment in low-carbon energy.

Wolf Theiss advised OMV Petrom throughout all phases of the transaction, including participation in the tender process, legal due diligence, transaction structuring, tailored purchase price mechanism, risk allocation, corporate governance matters, project-specific considerations and the drafting and negotiation of the transaction documents, including SPA and SHA, up to and including completion. The mandate also covered support on title and warranty insurance.

The Wolf Theiss team was led by Partners Richard Clegg (Corporate and M&A), Radoslav Mikov (Energy and Regulatory) and Senior Associate Boryana Filimonova (Corporate /M&A), with support from various team members across practice areas, notably Radosveta Kojuharova (Real Estate). On the client side, the project was led by Mr. Angel Yankov, Country Manager Bulgaria Gas and Power at OMV Petrom.