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Closing: Kommunalkredit EUR 37.5 Million Financing for 63-Megawatt Senyo PV Plant Now Closed

Closing: Kommunalkredit EUR 37.5 Million Financing for 63-Megawatt Senyo PV Plant Now Closed

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On September 20, 2023, PHH announced that Kommunalkredit's EUR 37.5 million financing for the 63-megawatt Senyo photovoltaic plant in Hungary – commissioned by Green Source and Core Value Capital – (reported by CEE Legal Matters on August 7, 2023) had closed.

As previously reported, PHH and Dentons advised Kommunalkredit, while CMS advised Green Source and Core Value. The project should begin operations by early 2024. Germany-based Iqony Solar Energy Solutions is building the plant on the basis of an engineering procurement and construction contract.

The PHH team included Partner Wolfram Huber and Attorney at Law Lisa Urbas.

The Dentons team included Partners Gergely Horvath and Gabor Kiraly, Associates Nora Ordody-Nagy and Bence Boszormenyi, and Junior Associates Kinga Kovacs and Adam Brecko.

The CMS team included Hungary-based Managing Partner Erika Papp, Senior Counsel Zoltan Poronyi, Senior Associates Peter Deak and Szabina Soptei, and Associates Adam Takacs, Zita Gressai, and Emese Mezo, as well as further team members in Germany.

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