nikola zahariev

partner

M: +44 (0)7500 122 635

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It has been a real privilege to partner with Lux Nova in delivering the £320m Heat Network Investment Project on behalf of the Department for Business, Energy and Industrial Strategy… Nikola Zahariev has supported our funded projects with a unique blend of deep sector experience combined with real-world commercial pragmatism and boundless charm.
— Ken Hunnisett, Head of Public Sector, Triple Point Heat Networks Investment Management

Nikola specialises in renewable and low carbon energy projects. He has advised financial and industrial sponsors, utilities, community groups, trade associations, start-ups, banks, governments, fund managers, developers and contractors, on projects across the UK, continental Europe, the Middle East and Africa.


examples of nikola’s recent experience include:

  • Corporate PPAs and green gas procurement - advising a variety of generators and offtakers on their green power and gas purchase requirements, whether “behind” or “in front of” the meter, rooftop or ground-mounted, through private wires, sleeved, virtual, or through match-making platforms.

  • Equity investments - advising a range of investors, shareholders and founders on complex equity investments (new share issuances as well as M&A) into renewable energy, clean heat and clean tech development platforms.

  • Project Financing - most recently advised Bayerische Landesbank on its project financing of the Bicker Fen park (owned by AGR / Railpen) with is a transmission-net connected 77MWp solar installation co-located with a 50MW BESS.

  • PNE Group – Advising this German developer on the construction project financing of two onshore wind projects in Poland, opposite the EBRD and Bayerische Landesbank. Nikola also advised on the subsequent disposal to Octopus. In 2025, Nikola then advised PNE Group on its sale of the consented Sallachy Onshore Wind project in Scotland, to Boralex.

  • HNIP and GHNF District Heating Financings – Implementing more than 100 clean district heating financings, on behalf of BEIS / DESNZ.

  • Ecotricity Group – Advising this ground-breaking green utility company on a range of its business lines, including its zero subsidy renewable energy development portfolio; its ongoing PPA business; and most recently, its Virtual Power Plant aggregation business.

  • Blue Elephant Energy – Advising this German financial investor on the asset management of its existing portfolio, as well leading on all due diligence, acquisition, and disposals work in the UK market. Nikola continues to advise BEE on its M&A activity in the UK market.

  • Leapfrog / SASC Bridge Finance – Advising this community-focussed lender on its financings in relation to the Ferry Farm, Verdant, Empower and Gridserve solar projects.

  • Community Owned Renewable Energy (“CORE”) and Environmental Finance – Advising this leading community-focused financial investor on all aspects of the acquisition and financing of its solar portfolio and the subsequent migration into community ownership.

  • Energy Efficiency Services Limited and Edina – Advising this subsidiary of the Indian Ministry of Power on the due diligence into the Edina business and the related acquisition, leveraged financing and joint venture arrangements, and continuing to assist Edina with its ongoing growth.

  • International Renewable Energy Agency – Advising this international organisation on its capacity building programme for renewable energy PPAs in West Africa.

 

In 2018 and 2019, Nikola contributed as a guest lecturer at Oxford University’s “Smith School of Enterprise and the Environment”, on the post-graduate programme focussed on financing renewable energy.

In 2020 and 2021, Nikola contributed to the “Zero Carbon Heating” and “Demand Aggregation Financing” industry taskforces, organised by the Green Finance Institute.

He was included in “Hot 100” list of lawyers in the UK for 2023, published by The Lawyer magazine.

The Legal 500 has recognised Nikola as one of its “Next Generation Partners” for every year, from 2019 - 2023, and as a “Leading Individual” every year since then.

Chambers first ranked Nikola in 2026.


previous work history

Before joining Lux Nova in 2017, Nikola spent over 10 years at Allen & Overy and Pinsent Masons, in London and Moscow.


qualifications

  • Solicitor – admitted 2009

  • Legal Practice Course (Commendation, BPP Law School) – 2006

  • Graduate Diploma in Law (BPP Law School) – 2004

  • BA (Hons) History (First Class, Warwick University) – 2003