Wolf Theiss advises a consortium of lenders on EUR 1.24 billion financing for Hungary’s largest gas-fired power plant

Budapest, 28 January 2026 – Wolf Theiss advised a consortium of 11 international banks, with Citibank and ING acting as joint global coordinators in relation to the coordination and arrangement of debt financing exceeding EUR 1.24 billion for the construction of two combined cycle gas turbine (CCGT) power plants in Tiszaújváros and Visonta for MVM Group, the Hungarian state-owned energy provider.

This credit facility represents the largest financing in the history of MVM Group and has a 16-year term. The financing was structured with the participation of 11 international banks and insured by the Italian export credit agency SACE; Intesa Sanpaolo served as facility agent and export credit agency coordinator. This transaction provides the financial framework for building Hungary’s second-largest power plant, including the new 1,000 MW Tisza CCGT power plant, a key component of Hungary’s future generation capacity. The power plant will be the country’s largest gas-fired plant using modern technology and the second-largest power plant overall after the Paks Nuclear power plant.

The Wolf Theiss team consisted of Zoltán Faludi (Partner, Energy, Banking & Finance), Gergely Szalóki (Counsel, Banking & Finance), Ádám Lukonics (Senior Associate, Energy), László Lovas (Associate), Viktória Horváth (Associate), Noémi Csiki (Associate, all Banking & Finance) and Virág Lőcsei (Associate, Energy).

Wolf Theiss’ role included participation in the negotiation of the facility agreement and was supported by global law firm Norton Rose Fulbright who acted as lead counsel in respect of English law matters.