MVM Group to Develop 500-Megawatt Power Plant in Hungary
Deal News | Mar 06, 2025 | CEE Legal Matters
Kinstellar has advised the Hungarian utility company MVM Group on the development of a 500-megawatt combined-cycle gas turbine (CCGT) power plant at the Matra Power Plant in North-East Hungary. This new facility aims to replace old, high-emission lignite-fired power plants, thereby supporting Hungary's renewable energy expansion efforts. The project is backed by a development consortium composed of Elsewedy, West Hungaria Bau, and Status KPRIA, which was awarded the project through a public procurement process. The advisory team from Kinstellar included Managing Partner Balazs Sepsey and Senior Associate Laszlo Bujaki. The project signifies a substantial step by MVM Group toward reducing carbon emissions and aligning with renewable energy initiatives.
Sectors
- Energy
- Legal Advisory
Geography
- Hungary – The entire project is geographically situated in North-East Hungary, with MVM Group being a Hungarian company.
Industry
- Energy – The article discusses the development of a new power plant and the replacement of high-emission power facilities, focusing on energy production and renewable energy sources.
- Legal Advisory – Kinstellar, a law firm, is providing legal advice to the MVM Group in developing the new power plant, which involves complex legal processes in public procurement and construction.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| MVM Group | Target company | Company | A Hungarian power company undertaking the development of a 500-megawatt power plant. |
| Kinstellar | Legal Advisor | Company | A law firm advising MVM Group on the new power plant's legal matters. |
| Elsewedy | Development Consortium Member | Company | One of the companies in the consortium responsible for developing the power plant. |
| West Hungaria Bau | Development Consortium Member | Company | A company involved in the consortium responsible for the power plant's construction. |
| Status KPRIA | Development Consortium Member | Company | A participant in the development consortium building the new power plant. |