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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

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.

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