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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.

Hungary Knowledge Partner

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa, and Asia Pacific. This positions us to help clients with their legal needs around the world.

With more than 60 lawyers, including 14 partners, and a staff of over 140, DLA Piper Hungary is one of the largest international law firms operating in Hungary. What makes us stand out is that we offer not only legal services but also tax and business advisory support in a fully integrated manner. We maximize synergies between legal, tax, and business advisory services to offer a unique service for our clients, particularly in regulated industries such as energy, infrastructure, life sciences, banking, and telecommunications.

We are a true full-service firm, providing our private and public sector clients with advice on all aspects of their business. This includes transaction-related advice, people and employment, commercial dealings, litigation, information technology, media and communications, intellectual property, insurance, tax, real estate, and restructuring plans.

DLA Piper Hungary has received numerous professional awards and is consistently ranked among the top law firms in Hungary by international rankings. We are ranked #1 by Mergermarket among the law firms active in Hungary based on the volume of M&A deals handled between 2005 and 2024.

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