Siegler Bird & Bird Ügyvédi Iroda maintains a strong national presence in energy M&A, wind and solar project refinancings, regulatory advice and licensing matters. Konrád Siegler‘s reputation and financial sector background has contributed to the growth in project financing instructions from major Hungarian banks and utilities companies. Ferenc Mátrai is another key partner, focusing on real estate, retail and infrastructure developments and PPP projects. Senior associates Tamás Simon and Dániel Arányi are also active in project finance mandates.
Projects and energy in Hungary
Other key lawyers:
Ferenc Mátrai; Dániel Arányi; Tamás Simon
Hungarian Export and Import Bank
Montport Capital ApS
- Advising the Hungarian Export and Import Bank in connection with structuring and documenting complex secured financings for the Kopaszi Gát real estate development on the Danube.
- Continuing to advise Montport Capital ApS, the holding company and investment vehicle for Adriatic Marinas, and the developer and operator of the Porto Montenegro marina and resort complex, with a contemplated joint venture with Netherland-based Damen Shipyards Group. The joint venture is being formed to acquire Adriatic Shipyard AD Bijela, the holding company of the largest shipyard facility in the Southern Adriatic region, through a privatization process.
- Representing the Hungarian Export-Import Bank, in connection with its export financing of a greenfield agricultural project in Romania.
Kristóf Ferenczi leads Andrékó Kinstellar's premier full-service projects and energy practice, which acts for leading international and Hungarian companies operating in the oil and gas, electricity, mining and renewable energy industries, as well as developers and banks. The team features in some of the most significant mandates in the Hungarian market. Its wide-ranging expertise includes greenfield infrastructure investments, infrastructure developments, project finance transactions and environmental issues. Ferenczi is the lead partner for petrochemical revamp and development projects, while banking partner Csilla Andrékó specialises in the financing of social and economic infrastructure, PPP, power generation and renewable energy projects. Balázs Sepsey made partner in March 2021.
Other key lawyers:
Balázs Sepsey; Csilla Andrékó
‘Kinstellar is my go-to firm for Eastern Europe. I have, on a number of occasions, recommended Kinstellar to our clients and we have worked together on transactions for a number of years.’
‘The firm demonstrates solid expertise in various areas. The attitude of partners and associates clearly distinguishes them on the market. Such attitude with the experienced flexibility both in invoicing and available resources makes the firm to be an obvious choice for inhouse counsels.’
‘The firm demonstrates solid expertise in various areas (e.g. Energy, M&A, Commercial). The attitude of partners and associates clearly distinguishes them on the market. Such attitude with the experienced flexibility both in invoicing and available resources makes the firm an obvious choice for in-house counsels.’
‘Kristóf Ferenczi always responds within a short period of time and delivers exceptional quality in a remarkable range of legal domains.’
DXT Commodities SA
Astronergy / Chint Group
Hevel / AVELAR
- Advised the Hungarian National Asset Management Company on a greenfield investment in the form of a joint venture in relation to Airbus’ helicopter components and spare parts manufacturer plant in Gyula.
- Advising Bank of China (Hungary) on the financing of one of the largest solar power parks in Hungary with a 100 MWp capacity in the area of Kaposvar developed by two Hungarian project companies sponsored by a major Chinese investor, CMC.
- Advised MVM Next Energiakereskedelmi Zrt. in connection with the takeover of more than 2 million household customers of universal services from ELMŰ Energiaszolgáltató Zrt. (owned by E.ON Group) with the effect of 1 September, 2021. The rather complex mandate included among others drafting the offer of MVM Next Energiakereskedelmi Zrt. to be submitted to the Energy regulatory authority.
CMS advises banks, power plant developers, operators and investors on all aspects of the project life cycle. Its work ranges in scope from the financing of projects to their execution and operation. Péter Simon heads up the practice, which has a stand out reputation in PV power projects. Elsewhere, the firm's other work spans the renewables and oil and gas industries. Erika Papp specialises in energy finance, while senior counsel Zsófia Hermann is experienced in solar power plant projects, energy M&A, regulatory issues and the drafting of EPC and O&M contracts. Senior associate Péter Deák is another key individual.
Péter Simon; Erika Papp
Other key lawyers:
Zsófia Hermann; Péter Deák
‘Deep industry knowledge. Quick and responsive team’
‘CMS Hungary is excellent when it comes to energy and banking/finance work. They have advised on all legal aspects of a photovoltaic park in Hungary (development, construction, financing, sale). We are receiving regular updates on interesting legal aspects of our work and they are well-informed in relation to upcoming developments in Hungary.’
‘Peter Simon and Peter Deak stand out; they have been very reliable partners throughout our projects in Hungary; supported by their colleagues in Real Estate, Corporate/M&A and Banking/Finance.’
Budapest Power Plant
Green Source GmbH
- Advising Budapest Power Plant on all of its day-to-day issues, including developing EPC contract templates and providing legal advice on various large-scale EPC and refurbishment contracts.
- Advising Green Source on the acquisition and development of various PV projects in Hungary.
- Advising Enlight on the acquisition and development of various PV projects in Hungary.
Dentons‘ team maintains a busy practice in solar power park and nuclear power developments. It also has a good national reputation assisting both borrowers and lenders with project finance matters. Elsewhere, the firm advises on tenders under the METÁR system, the operational system used to facilitate renewables-based electricity generation. Gergely Horváth‘s specialism in banking and project finance is complemented by the experience of Anita Horváth and István Réczicza in energy M&A. Other key figures include Eszter Zádori and counsel Emőke Kovács.
Gergely Horváth; Anita Horváth; István Réczicza
Other key lawyers:
Eszter Zádori; Emőke Kovács
‘Ms Eszter Zádori has deep knowledge of the Hungarian energy market and regulation. She renders high value services and does the brain-work instead of the client. A great person with elegant sense of humour and exceptional work ethic.’
‘We have worked with our energy expert for more than a decade now and this not only leads to a high level of efficiency as she knows our business thoroughly, but also as we could develop a very good personal relationship.’
‘They are well prepared and are real experts in energy law, having proper specialist knowledge and experience for energy matters.’
‘The two lawyers who were involved were very engaged. They really enjoyed their task. They examined the issue precisely, with a problem-solving mindset. Advice was very plain. They did not try to escape a definite answer.’
Hungarian Export-Import Bank (Eximbank)
K&H Bank (KBC Group)
EBRD and EIB
- Advising K&H Bank, the Hungarian member of the KBC Group (the Belgian universal bank group) as lender on the financing of 130 photovoltaic power plants operated by five SPV’s located in seven various locations in Hungary, with an aggregated capacity of 65 MW.
DLA Piper‘s multidisciplinary team draws upon the expertise of practitioners active in areas such as energy, projects, M&A and project finance. The group acts for clients on a wide variety of matters, such as solar and nuclear power plant developments, electricity and natural gas trading and transmission/distribution, electric vehicle charging services, public infrastructure projects and waste management. The firm is acting for Russia-based Rosatom group on the construction of two new nuclear power plant blocks in Paks. Péter Györfi-Tóth has over 20 years of experience advising various market players on infrastructure development, energy law, projects and finance, state regulatory legal issues and energy disputes. András Posztl and Gábor Simon are also highly regarded energy specialists. Counsel Miklós Horváth specialises in the finance, structuring and development of large infrastructure projects.
Péter Györfi-Tóth; Gábor Simon
Other key lawyers:
András Posztl; Miklós Horváth
‘DLA Piper is a well known and appreciated law office in Hungary, sizeable group of staff and they cover some non-core areas as well.’
HUPX Ltd. / CEEGEX Ltd.
MVM Hungarian Electricity Private Limited Company
MET Renewables Holding AG
Joint-Stock Company Nizhny Novgorod Engineering Company Atomenergoproekt (Rosatom group)
- Advising Airbus Helicopters on matters arising from a joint venture to set up a new aerospace enterprise in Gyula, Hungary. Advised on numerous areas, including transactional and corporate law structuring, state aid, regulatory matters, and development of a production facility as part of a greenfield aerospace complex.
- Advising HUPX Hungarian Power Exchange Company Limited and CEEGEX Central Eastern European Gas Exchange Ltd. as their legal advisor in connection with their daily operation and cross-border matters.
- Advised the state-owned MVM Group relating to the purchase of four SPVs operating solar power plants in the areas of Söjtör, Kőszeg, Vép and Csepreg with a total built-in capacity of 16.34 MW.
Lakatos, Köves and Partners is a prominent name for large motorway concession projects, logistics, automotive sector and industrial property developments and nuclear and renewable energy developments. The practice has seen an increase in demand for its services in social infrastructure, particularly in relation to private healthcare and private education, where the team has a longstanding relationship advising the American International School of Budapest on its property development projects. Also notable is that it is currently working with Stonehill/IC Campus on the development of a new university campus. Its multidisciplinary team comprises of corporate and energy partner Ádám Máttyus, real estate development expert Attila Ungár, founding partner Péter Köves (an expert in financing and PPP) and counsel Viktória Szilágyi.
Péter Köves; Ádám Máttyus
Other key lawyers:
Attila Ungár; Viktória Szilágyi
‘Very international and high standard.’
‘Viktória Szilágyi is a highly skilled professional’
‘Ádám Máttyus is always helpful. We have been working with his team for a few years and they have always delivered.’
ROSATOM / JSC ASE EC
Green Power Investment s.r.o.
Arctic Green Energy
- Advising ROSATOM / JSC ASE EC (and its branch in Hungary), main Russian Contractor in NPP project Paks II, in the implementation of its NPP Paks II project, including but not limited to Hungarian civil and atomic energy laws, licensing issues, employment law, nuclear regulations, contract law, application of special provisions in international government agreement, Project Act and EPC-contract.
- Advising GLP on major legal aspects of the multi-phased construction of a logistics centre in Szigetszentmiklós (a distribution centre / warehouse building and all ancillary infrastructure and functions (including administrative, social, technical areas), including drafting and negotiation of the related EPC agreement and payment trustee agreement.
- Advising long-standing client Mattoni in relation to the establishment of a joint venture for the development of the new bottling plant South of Budapest.
Wolf Theiss Faludi Erős Ügyvédi Iroda is distinguished for its unique offering in electricity forwarding, a special structure for real estate developers and real estate management companies, and its reputation in energy arbitration, led by name partner Zoltán Faludi. He also advises on all aspects of energy law, including acquisitions, regulatory issues, solar energy purchase agreements and the financing and development of photovoltaic plants. Practice head László Kenyeres has a wealth of cross-border experience in power plant, renewables and infrastructure development projects, having previously been involved in major development mandates in Albania, Bosnia & Herzegovina, Croatia and Serbia. In addition, he is also experienced in energy market regulations, finance network tariffs and implementation of energy efficiency schemes. Norbert Bálint has significant experience of concession agreements, PPAs, electricity production, network contracts, gas supply and tolling structures. Zoltán Bodnár is noted for electricity and heat generation work.
Zoltán Faludi; László Kenyeres
Other key lawyers:
Norbert Bálint; Zoltán Bodnár
Optimum Solar Kft. (Ltd.)
Enlight Renewable Energy Ltd.
E2 Hungary Kft.
Notus Energy Plan GmbH & Co. KG
EFET (European Federation of Energy Traders)
- Advising Optimum Solar Kft on the development of a pipeline of 10 photovoltaic power plant projects in Hungary with a new installed capacity of ca 50 MW each.
- Advising BorsodChem, part of the Chinese Wanhua Group, a leading European producer of MDI, TDI and PVC resins as well as base and specialty chemicals, concerning a new gas power plant development at the client’s site in Hungary. This has been Hungary’s biggest conventional energy development project since 2019.
- Advising Enlight Renewable Energy Ltd and its Hungarian subsidiaries on the acquisition, financing, construction, and operation of three solar renewable energy investment projects in Hungary, with an installed capacity of approximately 60 MW.
Hegymegi-Barakonyi and Partner Baker & McKenzie Attorneys-at-Law
Hegymegi-Barakonyi and Partner Baker & McKenzie Attorneys-at-Law is a strong choice for advice on energy and infrastructure development projects, including those involving railroads, natural gas and solar/photovoltaic mandates. The firm is able to field a diverse team of transactional, banking, real estate, regulatory and disputes specialists, both in the Budapest office and across various European offices. As a co-head of the corporate department, Akos Fehérváry is regularly instructed by foreign developers, banks and investors on inbound investments and the operation of traditional and renewable energy projects within Hungary. József Vági leads the infrastructure offering, advising clients on all aspects of finance transactions. Benedek Kovács is the main partner for real estate-related development mandates.
Ákos Fehérváry; Benedek Kovács; József Vági
Energetický a průmyslový holding (EPH)
Hungarian Development Bank (MFB Zrt.)
FGSZ, the Hungarian gas Transmission System Operator (TSO)
SEMCORP (Shanghai Energy New Materials Technology Co., Ltd.)
- Advised MOL on its acquisition of OMV’s 92.25% stake in OMV Slovenija, holding OMV’s network of 120 petrol stations under three brands across Slovenia.
- Advised EPH on the sale of Budapesti Erőmű Zrt. (BERT), the Budapest power plant, to Veolia. This was one of the largest transactions in recent years on the Hungarian energy market.
- Counsel to MFB on its project financing for the acquisition of 87 photovoltaic power plants in Hungary, implemented by the MVM Group, Hungary’s primary energy holding company.
Clients recommend Réti, Várszegi and Partners PwC Legal‘s ‘flexible and professional team’ for its diverse capabilities acting for investors and developers on a range of investments involving greenfield sites, renewables and solar power, transportation and concession-based investments. The practice also offers assistance with tax and regulatory aspects of investment and project management. Managing partner Zoltán Várszegi continues to assist a Hungarian subsidiary of a Canadian oil and gas upstream group in their operations, and negotiations with the Hungarian Government over exploration and production of hydrocarbons. Eszter Gally is recommended for public procurement and public utilities. Peter Zalai has ‘an in-depth understanding of the energy industry’ and is noted for corporate reorganisation projects, electricity and natural gas.
Zoltán Várszegi; Eszter Gally; Péter Zalai
‘Flexible and professional team is ready to support the clients with high quality service. They are very reliable partners in special topics. Communication and billing were also smooth.’
‘We have worked with the team with transport infrastructure developments (railways and airports) and also with public service contracts. Their approach is very professional.’
‘Zoltán Várszegi is an outstanding talent in his profession, with a helpful and proactive mindset, truly understanding customer needs.’
‘Very good client contact. Quick understanding of complex cases. Fee flexibility.’
‘I worked with Péter Zalai many times. He has an in-depth understanding of the energy industry, therefore he understands client issues much easier and he is able to provide well-grounded and innovative solutions which takes into consideration the complex industry-specific business environment.’
‘Very responsive lawyers. The client always feels he/she is the most important and valued client. They are effectively looking for solutions and can always suggest a way to help the business. Good teamwork and the client can feel the trust and good relationship between the team members.’
‘Peter Zalai and Zoltán Várszegi – feels like having personal attorneys. They know the client very well and always have an idea even for unusual business cases.’
Samsung SDI Hungary Zrt.
RSOE (Rádiós Segélyhívó és Inforkommunikációs Országos Egyesület)
- Advised Samsung SDI Magyarország Zrt. in connection with its high volume investment in Göd, Hungary.
- Advised the Vermilion Group, and upstream oil & gas investor in connection with their concession activities and operations in Hungary.
- Advised Flisom AG in opening a solar panel manufacturing plant in Hungary. Supported in the company setup, the contracting for the development and lease of the site, the financing of the investment, the preparation of employment and procurement related documents.
At Schoenherr Hetényi Ügyvédi Iroda, regulatory specialist Dániel Varga is the main figure for projects and infrastructure mandates. The firm is highlighted for its activity in Central Asia, and in particular, its close relationship working with the EBRD to support the Republic of Uzbekistan's liberalisation of its power sector. Varga continues to advise on various regulatory matters in connection with the establishment of a new power sector model and a framework for private energy investments. He is also involved in drafting a new electricity law for Uzbekistan in compliance with its liberalisation strategy. Within Hungary, the practice regularly supports the OMV Group in various regulatory and energy sector-related M&A transactions. It is also known for its activity in photovoltaic power plant projects, and in the development of industrial facilities.
‘We have a strong impression that they are very experienced and have wide-screen thinking.’
‘Daniel Varga is very responsive. Straight to the point. Does not distract with irrelevant information.’
‘Daniel Varga has been exceptionally good in providing high quality legal review and drafting on a timely manner in a challenging environment.’
‘The team at Schoenherr has shown not only excellent legal knowledge but also great business acumen which is something that made them stand out. We have a lot of M&A transactions whether for quota buy/sale or real estate buy/sale, and to have a legal team who can also grasp the business side of the agreements, is a very important thing that supports our decision making.’
‘We have been almost always in contact with Daniel Varga. He is super efficient, precise and respectful of the given deadlines, and on top of that, he is confident when giving legal opinions which gives us the same confidence to make decisions, since from our experience, not all the lawyers are confident enough when giving advice or feedback.’
‘Schoenherr has a highly professional team of experts who provide exceptional quality work in challenging conditions. They have shown flexibility and dedication to meet the changing needs of the client.’
‘I have worked only with Daniel Varga. He is attentive, competent and responsive.’
European Bank for Reconstruction and Development (EBRD)
GTC Magyarország Ingatlanfejlesztő Zrt.
E.On Hungária Zrt.
DML Hungary Kft.
ID Energy Group
Ximo Hungary Kft.
- Advising EBRD in connection with the strategic support provided to the Republic of Uzbekistan to draft its electricity law in order to liberalise the power sector and attracting foreign investments.
- Advising ID Energy Group, a photovoltaic energy investor group headquartered in Spain in respect of its solar power plant projects in Hungary.
- Advised KNYIP Kft. on the re-designing of its power forwarding arrangements in a business park located in Central Hungary.
Forgó, Damjanovic & Partners Law Firm is adept at handling transactional and contentious matters relating to transportation concession projects, acquisition, investments and operation of solar power developments, coupled with unique knowledge of fibre optic cable systems. The practice also excels in handling regulatory and licensing matters in oil and gas, mining projects and electricity and water distribution. Managing partner Zoltán Forgó is the key contact.
Pacific Drilling S.A.
Scholz Recycling Group
- Continued to represent Obton in acquiring a large solar park portfolio for over €50m.
- Assisting Obton A/S with the acquisition of a portfolio of solar parks with a combined 13MWp.
HP Legal | Hajdu & Partners' energy practice is led by Laszlo Hajdu, who is ‘a leading expert in banking and finance’ and has a strong track record advising Hungarian lenders and borrowers on acquisition and development finance of renewable energy sites, solar parks plants and greenfield investments. Notable mandates included advising the Hungarian Development Bank as lender on a project finance credit facility of circa €25m for the financing of a solar power plant project of a Hungarian borrower. Real estate finance specialist Réka Versics is another key figure.
Laszlo Hajdu; Réka Versics
‘HP Legal has an experienced and client-oriented team with a practical and business-focused mindset. They have extraordinary knowledge and expertise in banking and finance and they are very flexible and reliable problem solvers. Laszlo Hajdu and Reka Versics have great expertise in greenfield projects and their whole team owns their prompt and responsive work ethic.’
‘Laszlo Hajdu is a highly capable, excellent lawyer with impressive expertise in banking and finance deals as well as the Hungarian market. He is one of the leading individuals in banking and finance law.’
‘Reka Versics is an experienced, highly-skilled, pragmatic lawyer, her legal knowledge is combined with out of the box thinking. She is a young female partner, a rising star in banking and finance, as well as in project finance and acquisition finance. She is one of the most talented lawyers of her generation.’
‘HP Legal is a team of excellent, highly skilled lawyers with a strong business spirit. Their legal advice is always of the highest level of quality. I trust them to provide the best legal solution for any business matters.’
‘Laszlo Hajdu is a leading expert in banking and finance. He is an efficient and responsive partner with a very good understanding of business issues.
‘Reka Versics is a lawyer of great expertise with a pragmatic, commercial approach.’
Property Market Development Ltd
OTP Bank Plc
Hungarian Development Bank
International Investment Bank
Futureal Real Estate Development Fund
Cordia Real Estate Development Fund
- Advised the syndicate of banks arranged by OTP and Hungarian Development Bank on a multimillion-dollar bank guarantee credit facility provided to the development of a major Hungarian railway infrastructure project implemented by a Hungarian borrower.
- Advised Property Market Development Ltd. as borrower in relation to a project finance credit facility of €30m for the financing of its real estate developments in Kopaszi Gat, Budapest, Hungary granted by Hungarian Development Bank and Takarekbank Ltd.
- Advised Hungarian Development Bank (MFB Magyar Fejlesztési Bank) as lender in relation to a project finance credit facility of approx. €25m for the financing of a solar power plant project of a Hungarian borrower
KCG Partners Law Firm's multidisciplinary team of banking, corporate and real estate specialists advises a wide range of Hungarian clients on infrastructure and utility development projects, industrial licences, land and city development and construction issues. Eszter Kamocsay-Berta acts for clients from the oil and gas, renewable energy, construction, financial, chemical and automotive sectors on a range of acquisitions and investment transactions. Gabriella Gálik has ‘in-depth knowledge of the industry that elevates her over their competitors’. She is particularly active in M&A and industrial development (both greenfield and brownfield investments).
Eszter Kamocsay-Berta; Gabriella Gálik
‘KCG has an exceptional project team. They have great knowledge of industrial projects, a very professional team in every respect.’
‘Readily available, highly-skilled and business-minded team of lawyers with competitive prices. Excellent organization of resources to deliver legal services in a timely manner and by keeping their commitments.’
‘Gabriella Gálik is an excellent attorney delivering high-quality legal service. She is having an in-depth knowledge of the industry that elevates her over their competitors. Exceptionally they are not only legal-minded but their business acumen is exceptional.’
‘KCG lawyers have important skills like critical thinking, creativity and high problem-solving skills.’
- Advising the Hungarian subsidiary of the LEGO Group in Nyíregyháza in the course of its latest expansion project launched in 2021.
- As part of its renewable energy focus and CO2 reduction commitments, advised Lego on its allocated land area of 5 hectares for Solar (PV) panel installation and building of an adjoining solar power plant of 5MWac, connected to the LEGO factory in Nyíregyháza.
Gergely Légrádi leads the projects practice at Oppenheim Ugyvedi Iroda, which continues to be a leading adviser to German-speaking developers and greenfield investors. It also generates work from foreign entities operating in the Hungarian energy and natural resources, automotive, and transportation and logistics industries. Légrádi is known for his courtroom skills as a litigator, and is also increasingly active on regulatory mandates and PPP projects. Senior counsel Petra Tasi focuses on electricity and gas and has ‘a good understanding of how the market works’. Senior associate Dávid Hanis assists with environmental matters, mining law and renewable energy mandates.
Other key lawyers:
Petra Tasi; Dávid Hanis
‘The team works efficiently and understands very well what the business needs, also very reliable and easy to work with.’
‘In the past, we have been mainly advised by Ms. Petra Tasi, who is very knowledgeable, approachable and has a good understanding of how the market works.’
‘Great availability, flexible colleagues, short delivery times.’
‘Our contact person is Gergely Légrádi. The understanding of the task and the identification with the client’s point of view is excellent. The relationship is good.’
Ministry of Foreign Affairs and Trade and Adria Port Zrt.
Hungarian Energy and Public Utility Regulatory Authority
ISH Food Group
OMV Gas Marketing and Trading GmbH
RWE Supply and Trading GmbH
Bio-Tech Distributions Kft.
- Advising Hungarian Ministry of Foreign Affairs and Trade and Adria Port Zrt. regarding all of its operations within in Hungary and in Trieste (Italy) with respect to the acquisition of the territory and concession of the port in Trieste (Italy).
- Continuing to advise AUDI AG and its Hungarian subsidiary on legal matters relating to self-driving vehicles and new initiatives regarding innovative telecommunication methods in cars and other regulatory matters.
- Contining to support RWE Supply and Trading GmbH on its energy trading activities in Hungary, including but limited to projects in the field of gas sublet, virtual gas storage, cross-border trade as well as tendering and bidding processes.
Szabó Kelemen & Partners Andersen Attorneys acts for energy traders and multinational and mid-sized industry players on entry into the Hungarian energy and infrastructure market. It also advises on cross-border greenfield investments, acquisitions, licensing and contractual issues. Corporate partner Péter Vincze, Balázs Dominek and Szilvia Fehérvári focus on project financing and day-to-day commercial operational support for electricity and gas traders respectively.
Péter Vincze; Szilvia Fehérvári; Balázs Dominek