Board of Directors

Valentin Zlatev
Valentin ZlatevChairman

Born in 1965, Mr. Valentin Zlatev is the Chairman of the Board of directors.

He is a prominent and highly respected businessperson, manager, and investor. The successful entrepreneurial skills of Valentin Zlatev earned him international recognition.
From 1994 to 1998 he served as Vice-President of Rosneft Oil Company in Moscow.
Afterwards, from 1998 to 2020, he held a number of senior leadership roles in Lukoil, including Regional Manager for the Balkans, Chairman of the Board of Directors and Deputy Chairman of the Supervisory Board of Lukoil Neftochim Refinery Bulgaria, and CEO & Chairman of the Supervisory Board of Lukoil Bulgaria.

Between 2014 and 2019 he has been elected Chairman of the Bulgarian Petroleum and Gas Association. Since 2020, he has been appointed as Chief Executive Officer of Sustainable Energy Supply LTD, where he is also a shareholder.

He holds a Master’s degree in International Law from the Moscow State University of International Relations and a Ph.D. in Comparative Politics from the Russian Academy of Science.
He was awarded a Doctor Honoris Causa by the prestigious City University of Seattle, Washington, in 2003.

Vladimir Ustinov
Vladimir Ustinov Vice Chairman

Vladimir Ustinov’s entire professional career has been connected with the energy sector. Before joining Sustainable Energy Supply, Ustinov held managerial positions in the production and trading of liquid fuels.
Mr. Ustinov has also undergone training at ConocoPhillips in Houston, USA.

He completed his studies in Financial Management at Uhta State University, Russian Federation.

Prior to that, he obtained a qualification as a marine engineer from the Ukrainian State Maritime Technical University in Mykolaiv.

In addition to his native Russian, he speaks English, Bulgarian, and Ukrainian.

He was born in 1972.

Margarita Ralcheva
Margarita RalchevaMember of board

Margarita Ralcheva possesses extensive professional experience and expertise in the development, implementation, and maintenance of best practices, standards, and policies in the fields of industrial safety, occupational health and safety, and environmental protection.

She is a qualified Molecular Biologist holding a Master’s degree in “Ecology and Environmental Protection.” She has completed specializations in “Environmental Theory and Practice in Bulgaria and Germany” and “European Project Management,” as well as an additional professional qualification in “Economics and Management.”

She holds numerous certificates from specialized trainings in the areas of hazardous substances management in industry, occupational health and safety, energy efficiency, and sustainable development. She has also acquired competencies and qualifications as an internal auditor for Environmental Management Systems, Energy Management Systems, and Occupational Health and Safety Management Systems.

With extensive experience in managerial and expert positions within the private sector, she has led and successfully implemented complex projects aimed at improving safety, reducing environmental impact, and fostering a culture of responsibility and prevention in industrial environments.

Currently, she holds the position of Environmental and Health & Safety Specialist, working with strong commitment toward the creation of a sustainable, safe, and responsible working environment. She actively supports the development and implementation of modern policies and initiatives integrating occupational health and safety with environmental management, climate challenges, decarbonization, and the transition to a low-carbon economy, positioning safety, quality, and environmental responsibility as top strategic priorities and key factors for the Company’s long-term success.

Mitko Petkov
Mitko Petkov Member and CFO

Mitko Petkov has over 10 years of experience in corporate finance and financial analysis. His competencies include budgeting, capital budgeting, investment analysis, business planning, financial modeling, strategic planning, and forecasting.

Before joining the team at Sustainable Energy Supply, Petkov gained experience in several responsible positions. He has served as Chief Expert in the Economic Planning Department, Investment Analysis Expert, and Economist.

Mr. Petkov holds a Master’s degree in Business Administration from City University of Seattle, as well as a Bachelor’s degree in Management from the same institution.

He is fluent in English and has a good command of Russian and German.

Radoul Iliev
Radoul IlievMember of Board

Radoul Iliev is an attorney specializing in the energy sector, with more than 15 years of experience in Bulgarian and European energy regulation, commercial law, and corporate governance. As Head of the Legal Directorate at Terra Way Group Ltd., he leads the Group’s legal function, providing strategic legal support for its operations, transactions, and long-term business development.
His expertise includes electricity and natural gas trading, renewable energy projects, corporate governance, mergers and acquisitions, energy infrastructure, and compliance with key European regulatory frameworks, including REMIT, EMIR, MiFID, and EU sanctions regimes.
Before joining Terra Way Group Ltd., Radoul held senior legal positions at the Bulgarian Commission for Protection of Competition, the Independent Bulgarian Energy Exchange, and the leading Bulgarian law firm Djingov, Gouginski, Kyutchukov & Velichkov (DGKV). In 2023, he was recognised by The Legal 500 as a Rising Star in Energy and Natural Resources in Bulgaria.
Radoul holds a Master’s degree in Law from New Bulgarian University. He is fluent in English and serves on the Board of Directors, contributing legal expertise to the Group’s strategic decision-making.

Lachezar Gelev
Lachezar Gelev CEO

Lachezar Gelev is a Customs and excise expert with more than 15 years of practice gained as an official in the state administration and an employee in the private sector.

Since November 2011 he is a leading expert in the Regional tax center of LUKOIL, where he is responsible for all excise and customs issues that occur. From 2006 till 2011 he worked in the Central customs directorate as a:

– Main specialist dealing mainly with the following tasks:

preparing written solutions to different excise issues;

making propositions for legislative changes;

leading training seminars for excise officers;

issuing of tax warehouse licenses;

– I worked also as an Excise liaison office responsible and as a National

communication manager where I was responsible for:

representing Bulgaria on the meetings of the Excise committee,

the  EMCS (Excise movement and control system) computerization

working party and the  Excise Contact Group;

working on international tax issues within the EU exchanged

through the Early warning excise system and the Movement

verification system.

Lachezar Gelev holds a Master degree in management  in energy, infrastructure, and utility.