Schoenherr has advised China's Shanghai Electric Power on its full acquisition of five project companies developing a 200-megawatt PV project in Northeast Hungary from Chint Solar Hungary Projects. Kinstellar advised Chint Solar.
Shanghai Electric Power, listed on the Shanghai Stock Exchange and owned by State Power Investment Corporation Limited, is a Chinese energy enterprise company. According to Schoenherr, “with sustainable development of thermal power generation as its main business, SEP has been committed to the development of clean energy, new energy, modern power service, circular economy, etc.”
Chint Solar is a company active in project development, financing, realization, and operation of solar parks.
According to Schoenherr, the project, dubbed Tokaj, has a “planned installed capacity of 200 megawatts and is expected to make a significant contribution to the renewal and decarbonization of Hungary's energy sector. It is currently in the construction phase and is to be commissioned in 2024. This is SEP's first flagship investment in Hungary, which may be followed by further significant projects in the region.”
Schoenherr's team was led by Attorneys at Law Laszlo Krupl and Gergely Horvath and included Associates Viktoria Magyar, Zsofia Rideg, Akos Kovacs, and Aron Hegyi.
Kinstellar's team included Partner Balazs Sepsey, Managing Associate Barnabas Sagi, Senior Associate Peter Gullai, and Associates Csenge Koller and Bertalan Vanya.