Raiffeisen Bank International successfully closed the largest PV and renewable energy M&A deal in Bulgaria to date

Raiffeisen Bank International AG (“RBI”), the exclusive Austrian member of Advior International, advised the group of sellers consisting of ACWA Power International, BlackRock, Inc. and Crescent Capital on the sale of 100% of the shares in ACWA Power CF Karad PV Park EAD, Bulgaria-based owner and operator of the Karadzhalovo 60.4 MWp PV park, to Enery Development GmbH, an Austrian renewable energy investor, developer and operator for an undisclosed consideration. The Karadzhalovo power plant, which is the largest single-site PV plant in Bulgaria, generated 85.56 GWh of carbon-neutral energy in 2019.
Furthermore, ACWA Power’s subsidiary NOMAC Limited, has also completed the sale of its 100% stake in NOMAC Bulgaria, a company providing operations & maintenance (O&M) services to the ACWA Power Karad plant, to Enery Development GmbH for an undisclosed consideration.

Raiffeisen Bank International

Advised in the sale of

ACWA Power CF Karad PV Park EAD (100%), NOMAC Bulgaria (100%)


Enery Development


MidCap Alliance