Alber & Geiger was retained by a US corporation specialising in power generation. Our client had purchased an important coal power plant in Bulgaria through a long-term power purchasing agreement. After Bulgaria’s accession to the EU, the client faced complaints over EU State aid. They turned to Alber & Geiger to assist in finding a solution with the Bulgarian authorities that would have the backing of the EU institutions.
By demonstrating the bigger picture of Bulgaria reaching out to Russian nuclear energy investments on the back of chasing out Western investors, we were able to create a strategy that targeted the European Commission and the European Parliament, dealing with energy security, environmental standards and compliance as well as the rule of law and investment protection, and shift away from a EU State aid consideration only.
As a result, the European Commission opened the door to finding a solution for the client that would solve the past through a future oriented energy agreement.