LAWYER MAGDALENA VALOVA: PASSION FOR PROFESSIONALISM

Magdalena Valova is an attorney with over 24 years of professional experience, specializing in commercial and corporate law, mergers and acquisitions, and public-private-partnerships (PPP), and is a partner at law firm Andrey Delchev & Partners. She is also a member of the Bar Council of the Sofia Bar Association and a registered arbitrator at the Arbitration Court of the Bulgarian Industrial Association.

As a professional, she has been actively involved in the preparation of legislative acts and regulatory initiatives aimed at improving the business environment and legal framework in Bulgaria, most notably in the areas of PPP and exploitation of natural resources. In parallel with her legal practice, she is the founder and head of the Support for Education Foundation, which provides funding and guidance to help young people from social institutions and disadvantaged backgrounds complete their higher education and achieve professional integration.

You have been with Andrey Delchev & Partners Law Firm since its inception. Why did you choose to develop professionally there?

The firm was established in 1997 by lawyers with extremely high professional reputations – former judges and executives in key state institutions. They possessed in-depth knowledge and extensive practical experience in the areas of regulation and public-private partnerships – areas that are still at the core of our expertise today.

As a young lawyer just out of law school, the opportunity to work alongside and learn from such individuals was both a privilege and a serious challenge. They not only set professional standards, but also created a culture grounded in integrity, mutual respect and long-term commitment – values with which I identify completely.

Over the years, the firm has become more than just a workplace. It is a community that I have grown with, contributed to, and continue to invest in with dedication and purpose.

How has the law firm changed over the years – and what have you learned as a professional during that time?

Considering that we established the firm 28 years ago, I would say that it has gone through its stages of development in a natural and consistent way – from its first steps, through youth, to maturity, which brings with it confidence, experience and a vision for the future.

What has never changed is the enthusiasm. We have never experienced fatigue. We have stayed true to our core values – professionalism, integrity and long-term commitment to the client. One of our most valuable resources has always been our team – strong, competent and cohesive, they are the foundation of everything we have achieved.

Over the years it is not so much us that has changed, but the challenges our clients face. Our practice areas have evolved in response to them. In the early years the main topics were privatisation and concessions of mineral water, underground resources, water and sewerage networks and facilities, and sea beaches. These were areas in which we gained deep and often unique expertise. With the subsequent boom in foreign investment, our focus naturally shifted to mergers and acquisitions, corporate law and real estate transactions. More recently, our practice has expanded to include state and municipal infrastructure projects – including projects related to the Sofia metro, business parks, dams, airports, ports, road infrastructure, and energy parks. This has necessitated a comprehensive, integrated approach to public authorities and private investors.

And what have I learned in all these years? That there are no impossible cases – there are cases that require more thought, patience and commitment. I have learned that trust is the most valuable asset – both in the client relationship and within the team. The legal outcome is not an end in itself – any solution must be sustainable, morally responsible and legally sound.

What's it like to deal all day with business problems that most people can't solve on their own?

We live in an extremely dynamic age – a world where change is happening at an unprecedented speed and scale. In such an environment, a good lawyer must anticipate the direction of development, prepare clients for new realities, think adaptively, assess risks on the fly, and offer solutions that sometimes have no precedent and cannot rely on "time-tested" models – because the cases themselves are new, untested, and often at the limits of the existing legal framework.

Our work traverses complex, multi-layered projects on a daily basis – from the structuring of a tissue bank and the regulatory framework for cryptocurrencies, to the ethical and legal challenges that artificial intelligence poses to intellectual property law. This requires not only legal knowledge, but also strategic vision, technical sensitivity and a highly developed sense of responsibility.

Working in such an environment is challenging, but also an extraordinary source of inspiration. There are no one-size-fits-all cases, no routine answers. And therein lies the charge of the profession – the intellectual courage to take on the complex, and the moral commitment to solve it with dignity.

Energy is a hot topic. What are your expectations – will the coal-fired power plants close, will new units open at Kozloduy NPP, can we rely on renewable energy?

Bulgaria's energy sector is facing a key transition – it needs to simultaneously ensure energy security, reduce its carbon footprint and meet its commitments to the European Union. The expectation is that coal-fired power plants will be phased out in the long term, particularly due to decarbonisation pressures and high emission allowance prices. However, they remain a strategic reserve in the coming years, at least until 2030, as they provide base load and employment in whole regions.

The closure faces a number of challenges with regard to the workforce that will be freed up and ways of compensating for them, including through social support, retraining and investment in regional development. There are serious intentions to build new capacity, including a project for an American technology Unit 7 at Kozloduy NPP (Westinghouse AP1000).

If funding and public support are secured, construction could start within the decade. Nuclear power is seen as a stable, low-carbon source. Renewables are already an integral part of the mix and will continue to expand, especially in the context of solar and wind projects. Challenges remain in providing balancing capacity, energy storage and grid adaptation. Investment in batteries and smart load management will be key.

In summary, I believe the transformation will not happen overnight. A hybrid model is emerging in which coal-fired power plants will recede but remain as a reserve, nuclear power will expand, and renewables will establish themselves as a leading trend backed by technological innovation.

These transformations place new and complex demands on the legal framework and the role of lawyers:

• Regulatory refinement and harmonisation of sectoral laws with European regulations and directives are needed, especially in the areas of the green deal, carbon allowances and state aid.
• Lawyers should be actively involved in structuring long-term energy projects – including construction and operating contracts, concession and PPA agreements, public-private partnership frameworks, financing contracts and international agreements.
• They also have an essential role in drafting legal defences to investments, particularly where international disputes and arbitrations arising from changes in the regulatory environment are concerned.
• Energy projects require a multidisciplinary approach, including legal experts in environmental, spatial planning, public procurement and labour law – especially in the transformation of employment in regions affected by the closure of TPPs.
• The changes are also leading to increased demand for corporate legal services – financing structures, new company formation, mergers and acquisitions, risk management and ESG compliance.

The case or the client you will never forget?

Over the years we have had the privilege of working with some of the largest and most strategically significant companies in Bulgaria – in the mining, construction, media and energy sectors. We have a long-standing partnership with many of them, which began with the establishment of our law firm. Each client and each case we have faced has brought its own unique value and has contributed to our professional growth.

There is certainly one person I will never forget – the late Dima Panitza – a distinguished public figure, philanthropist and inspirer who made an invaluable contribution to the development of democratic processes and modern education in our country. Dimi Panitza was a bright personality who loved Bulgaria endlessly and made impossible things possible. He radiated a special energy around him that only people with a conscious mission in their lives carry.

The project that has inspired me over the past few years is my work to build a private school for the Shalom Organization of Jews in Bulgaria. To be involved in building an educational institution where future generations will discover knowledge, tolerance and curiosity about the world is a cause that touches not only the mind, but the heart.

www.eurolex.bg