- Home
- News & Insights
Search by
Latest
Kinstellar advises MVM Group on landmark CCGT power plant development project at the Tisza Power Plant in Hungary
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
Dispute resolution and arbitration expert József Antal joins Kinstellar as Special Counsel in Budapest
Kinstellar is delighted to announce that József Antal, a highly respected dispute resolution and arbitration expert, has joined the firm’s Budapest as Special Counsel. With over 25 years of experience, József is widely recognised for his expertise in arbitration, litigation, public procurement and commercial matters. His distinguished career in both private practice and in-house legal roles makes him a valuable addition as Kinstellar continues to grow its dispute resolution capabilities across the region. József has built a distinguished career advising international and domestic clients in high-stake disputes. He spent 20 years at Baker & McKenzie Budapest, where he led the dispute resolution team as a Partner.
Supporting Energy Transition in CEE – Kinstellar successfully completes landmark CCGT Power Plant Development Project for Hungarian MVM Group at the Mátra Power Plant in Hungary
Kinstellar Budapest is proud to have advised the Hungarian MVM Group on the project to build a major new 500 MW combined-cycle gas turbine (CCGT) power plant in North-East Hungary—a key milestone in Hungary’s transition towards a more sustainable energy system. The new state-of-the-art CCGT power plant will replace low-efficiency and high-emission aged lignite-fired power plant assets, and support thereby the further deployment of renewable energy sources in Hungary. Kinstellar Budapest advised the MVM Group from the initial stages of structuring 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
Kinstellar strengthens its Corporate and M&A team in Hungary, with a senior hire
Kinstellar is delighted to announce the return of László Palócz, a leading M&A lawyer, to our Budapest office, as Counsel, effective 20 January 2025. László spent over six years at Kinstellar earlier in his career, during which his outstanding work on complex corporate M&A transactions and real estate matters earned him a promotion to Senior Associate. László brings in-depth expertise in multiple industries, having represented global investors, asset managers, and multinational corporations in landmark projects, including acquisitions, disposals, and lease negotiations. He has played key roles as part of various high-profile M&A transactions advising on complex legal matters and also has significant
Kinstellar advises MOL in connection with their landmark Polyol Project in Hungary – MOL’s largest organic investment to date
Kinstellar is proud to have advised the MOL Group, a leading international integrated oil and gas company, in connection with legal aspects of the MOL Group’s flagship EUR 1.3 billion new polyol complex in Tiszaújváros, Hungary. The new polyol complex, which has just been inaugurated, has the capacity of producing around 200,000 tonnes of polyol per year, and providing long-term employment for nearly 300 people. This landmark project had started in 2017 and Kinstellar has been assisting MOL in connection with the project from 2020. As a result of this project MOL has become the first company in the CEE region to have a fully-integrated value chain from crude oil to polyol production. The Kinstellar team
Balázs Sepsey is appointed Office Managing Partner of Kinstellar’s Budapest office
Kinstellar is delighted to announce that Balázs Sepsey has been appointed as new Office Managing Partner of Kinstellar’s Budapest office effective from 1 January 2024. Balázs takes over from Kristóf Ferenczi, who has been appointed Kinstellar’s Firm Managing Partner. Rising over the years from Junior Associate to Partner in 2021, Balázs has become one of the finest acknowledged professionals in his field. A recognised energy market expert, Balázs has been a key driver of the growth and success of the Budapest energy practice over the years. As a member of the Budapest office’s management team and a mentor in the local mentoring scheme, Balázs has gained a strong understanding of our culture and values.
Long term renewable power purchase agreements with renewable energy generators
The sale of the generated electricity by renewable energy generators through market-based long-term power purchase agreements (PPAs) is a fairly new phenomenon in the Hungarian electricity market. Whilst PPAs have already been concluded between conventional power plants and off-takers in the past, the interest towards renewable PPAs has only started to increase recently, primarily for the following reasons: Firstly, over the last few years the economics of renewable energy generation has substantially improved, and renewable energy generation has become more and more competitive with conventional forms of power generation. Secondly, the governments started to gradually phase out many of the formerly existing “old school”