Schoenherr has advised the China-based Shanghai Electric Power Co. Ltd. on its full acquisition of two project companies developing a PV project portfolio with a total capacity of 100 megawatts in Inarcs, near Budapest, from a Greencells Group subsidiary. Erdos Katona reportedly advised the sellers.
The Shanghai Electric Power company is a listed company owned by State Power Investment Corporation Limited. According to Schoenherr, “with sustainable development of thermal power generation as main business, SEP has been committed to the development of clean energy, new energy, modern power service, circular economy, etc. The company has transformed into a modern energy enterprise integrating high-parameter and large-capacity coal-fired power, gas-fired power, wind power, solar power, and distributed energy supply.”
The Greencells Group is a European provider of PV power plants.
According to Schoenherr, “the Inarcs project is currently in the start of the construction phase and is expected to become operational until 2024. SEP is looking forward to adding further projects to its Hungarian portfolio and actively contributing to the country's green energy transition.”
Earlier this year, Schoenherr advised Shanghai Electric Power on its acquisition of a 200-megawatt PV project in Hungary (as reported by CEE Legal Matters on January 16, 2023).
Schoenherr’s team included Partners Laszlo Krupl and Gergely Horvath and Associates Viktoria Magyar and Zsofia Rideg.
Editor's Note: After this article was published, Erdos Katona confirmed it had advised the seller. The firm's team included Partner Balazs Varszeghi, Counsel Orsolya Szilagyi, and Associate Kinga Mate.
