April 2025 – Kinstellar is delighted to announce that our Budapest team has advised MVM Group on the project to build a major (approx. 1,000 MW) new combined-cycle gas turbine (CCGT) power plant in Tiszaújváros, North-East Hungary.
This transaction and the Mátra CCGT power plant development were the first public procurement tenders in Hungary for such kind of power generation facilities. The new Tisza CCGT power plant will further support the energy transition of Hungary with the provision of a more reliable electricity system which is capable of integrating renewable power generation assets without endangering the security of supply.
Kinstellar Budapest provided comprehensive legal support to MVM Group from the initial stages of the project, through the drafting and negotiation with several potential bidders of the Engineering Procurement Construction (EPC) contract, as well as the Long-Term Service Agreement for the CCGT power plant.
The Kinstellar team consisted of Balázs Sepsey (Managing Partner) and Lászlo Bujáki (Senior Associate).
We are delighted to support MVM Group in this landmark project along with the Mátra CCGT power plant development, which are the first real large-scale conventional CCGT power plant projects to be developed in Hungary for almost a decade and which are key milestones in Hungary’s transition towards a more sustainable and resilient energy system.
The vital role of Kinstellar Budapest on both major CCGT projects clearly demonstrates our Energy team’s unique expertise in complex energy development projects and proves our ability to provide tailored advice to our clients with a deep understanding of the energy and infrastructure sectors in CEE. I would also like to highlight the dedicated contribution of László Bujáki, senior associate of our energy team.
Balázs Sepsey, Office Managing Partner