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Bilyana Belcheva


Bilyana Belcheva is an associate in the Project Development & Finance practice. She is a driver in the project and acquisition finance spaces for renewable energy, power transmission, oil and gas and infrastructure projects around the globe.
She also advises on various ESG and sustainability-linked investments. Clients frequently call on her to help them navigate the unforeseen and complex nature of their projects and financings that include multiple jurisdictions, government-backed securitizations and multitranche financings. Bilyana's clientele includes many of the top multilateral development and commercial banks, development finance institutions and export credit agencies from around the globe.


Representative matters

Power and Renewables:

Consortium on the bid for the proposed CODELCO Water Supply Project in Chile.

The lenders, including K-EXIM, in relation to the financing and development of the Upper Trishuli-1 216 MW hydro power project in Nepal.

The lenders, in relation to the MIGA-covered refinancing of the 220 MW Bhola CCGT project in Bangladesh.


  • Recognized as a "Rising Star" for Energy and Natural Resources in Singapore by IFLR1000 (2021)



Solicitor, England and Wales


Kaplan Law School LPC (With Distinction)

University of Leicester LL.B., with year abroad (First Class Honours)


English, German, Bulgarian
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.