04
Sun, Dec
76 New Articles

Hot Practice in Hungary: Robert Szuchy on BSLaw Budapest – Szuchy Law Office’s Energy Practice

Hot Practice in Hungary: Robert Szuchy on BSLaw Budapest – Szuchy Law Office’s Energy Practice

Hungary
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

The global shift to renewable energy and aspirations to reduce carbon emissions, together with the war-related energy crisis are among the major drivers that keep BSLaw Budapest - Szuchy Law Office’s energy practice busy, as Office Managing Partner Robert Szuchy points out.

“Energy is such a complex and timely topic, and it is not only because of the war in our neighborhood but because of the global drive and efforts to reduce carbon emissions,” Szuchy explains.

“Market players have to solve issues arising out of the high prices and also due to the limited availability of the various energy resources.” Szuchy adds that “at both local and international levels, the creation of energy communities is one possible solution for reducing emissions and becoming more energy efficient. The market needs new technology solutions all the time."

“In general, as the energy market is a highly regulated sector,” Szuchy says, "both the EU and national governments have established an extensive legal framework. The legal sector must collaborate with businesses and the technology sector in particular,  on the understanding that collaboration between the different actors is essential to create economically and commercially viable solutions. This new market environment demands new contracts."

"In Hungary, the concept of a smart grid is a new one, and we are involved in quite a few projects involving such solutions," Szuchy adds. "For example, we have advised on large-scale energy storage projects. We have also had interesting advisory mandates in relation to e-charging and micro-mobility." 

“Across the board in the energy sector, we advise on regulatory issues, including licensing,” reports Szuchy. “One of the other key issues for energy-related projects nowadays is financing, considering the EU taxonomy and ESG requirements. There are numerous criteria which companies have to meet in order to receive financing for a project.” 

Looking forward to the upcoming months, Szuchy believes that the firm’s energy practice will be even more active. “Larger energy consumers are seeking new opportunities to reduce the cost of energy,” he says. “New potential clients are looking for different solutions on how to be more energy independent, how to cut costs, or what type of alternative service providers to find. All these  considerations are leading to a host of legal issues, such as how to establish a smart grid, for example, and how to set up energy communities.”

Another major challenge, according to Szuchy, is dealing with the negotiations within the network and deciding on what type of contractual relationships could be best used. Finally, Szuchy believes, that creating PPA contracts and related commercial aspects will be important. “Companies have to either invest in energy efficiency or pay a certain amount in fees. Accordingly, there will be an even heavier focus on the energy practice,” he concludes.

Hungary Knowledge Partner

Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

The firm advises a broad range of clients, including numerous multinational corporations. 

Our activity focuses on the following practice areas: M&A, company law, litigation and dispute resolution, real estate law, banking and finance, project financing, insolvency and restructuring, venture capital investment, taxation, competition, utilities, energy, media and telecommunication.

Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+countries worldwide.

The firm advises a broad range of clients, including numerous multinational corporations. Among our key clients are: OTP Bank, Sberbank, Erste Bank, Scania, KS ORKA, Mannvit, DAF Trucks, Booking.com, Museum of Fine Arts of Budapest, Hungarian Post Pte Ltd, Hiventures, Strabag, CPI Hungary, Givaudan, Marks & Spencer, CBA.

Firm's website.

Our Latest Issue