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Corporate PPA

Corporate PPA

What is PPA? A PPA (Power purchase agreement) is a contractual agreement for the sale of a certain amount of energy that is generated by a renewable energy source (RES). Usually, PPAs are concluded for a relatively long period of time (between 10 and 20 years) for a fixed price, or for a price linked […]

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What are the new obligations for the citizens and the business under the latest amendments in the Anti-Money Laundering Act (“AMLA”) from July 2023?

What are the new obligations for the citizens and the business under the latest amendments in the Anti-Money Laundering Act (“AMLA”) from July 2023?

On 14.07.2023 certain amendments to the AMLA were promulgated in the State Gazette, which are transposing the requirements of the Fifth Anti-Money Laundering Directive (Directive (EU) 2018/843) and introducing additional measures to improve the anti-money laundering and anti-terrorist financing mechanisms. The amendments to the AMLA introduce significant changes to the way beneficial owners are disclosed

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A new strategy for the European Union pharmaceutical regulation

A new strategy for the European Union pharmaceutical regulation

On April 26th 2023 the European Commission (the “Commission”) announced its views on the implementation of the pharmaceutical reform in the European Union. The proposals of the Commission are determined to be the largest reform in this matter over the last 20 years. The Commission adopted a proposal for a new Regulation and a new

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The new Startup visa encourages third countries entrepreneurs to develop their business in Bulgaria

The new Startup visa encourages third countries entrepreneurs to develop their business in Bulgaria

Bulgaria is now one step closer to becoming an attractive venue for entrepreneurs who want to start developing an innovative business. With the introduction of the new Startup visa rules, our country ranks with other European states where similar legal opportunities have existed for a long time. The startup visa is a certificate for a

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New step towards a legal framework securing free data transfers between the EU and the US

New step towards a legal framework securing free data transfers between the EU and the US

In 2022, the question about free data flows between the European Union and the United States has been a hot topic. The end of March 2022 was a milestone moment as that was the time when the EU and the USA reached an agreement in principle on the so-called Trans-Atlantic Data Privacy Framework (you can

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New Vertical Block Exemption Regulation 2022/720 in effect from 1 June 2022

New Vertical Block Exemption Regulation 2022/720 in effect from 1 June 2022

A new Vertical Block Exemption Regulation 2022/720 (“VBER”) entered into effect on 1 June 2022. It replaced Regulation 330/2010 which applied until 31 May 2022. The new VBER sets out amended rules for block exemption of certain vertical agreements from the prohibitions of Article 101 TFEU aimed at protection of competition in the EU market.

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Are the email address and phone number considered personal data?

Are the email address and phone number considered personal data?

In a recent Position, the Bulgarian Commission for Personal Data Protection (“BCPDP“) has elaborated on whether an e-mail and a mobile phone number fall within the concept of “personal data”. The analysis was carried out at the request of the Ombudsman of the Republic of Bulgaria in connection to some proposed amendments to the Bulgarian

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Restrictions in the clause on working for another employer and more recent changes in the Labour Code

Restrictions in the clause on working for another employer and more recent changes in the Labour Code

In the last days before its dissolution, the National Assembly managed to adopt the proposed amendments to the Labour Code. The tumultuous media reaction to them could leave the false impression that the only innovation was the introduction of child-care leave for fathers of children up to the age of 8 years. However, the changes

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Bulgaria: Non-Solicitation Clauses in Commercial Contracts

Bulgaria: Non-Solicitation Clauses in Commercial Contracts

What is a non-solicitation or “no-poach” clause? A non-solicitation clause, also referred to as “no-poach” clause, is a contractual arrangement which limits the hiring and poaching of employees of a business. The effect of the non-solicitation clauses is similar to non-compete clauses, which typically aim to limit competition for customers. The non-solicitation clause limits the

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Simplified procedure for construction of facilities for production of electricity from renewables for own consumption

Simplified procedure for construction of facilities for production of electricity from renewables for own consumption

Pursuant to Directive (EU) 2018/2001 of the European Parliament and of the Council of 11 December 2018 on the promotion of the use of energy from renewable sources, and a measure from the National Recovery and Sustainability Plan of Bulgaria, and after serious debates and changes in the draft bill initially proposed by the government,

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