Wolf Theiss advises OTP Bank on the acquisition refinancing of the Gönyű power plant

Budapest, 9 March 2026 – Wolf Theiss advised OTP Bank on the acquisition refinancing supporting the purchase of Hungary’s most modern gas-fired combined cycle 430 MW power plant located in Gönyű by Veolia Group.

OTP Bank is one of the largest independent financial service providers in Central and Eastern Europe, operating in 12 countries of the region via its subsidiary banks.

Veolia is one of the market leader groups in Hungary in the energy, water and waste management sectors, running ten power plants across the country.

Wolf Theiss provided legal advice to OTP Bank on all Hungarian law aspects of the refinancing. The gas-fired Gönyű power plant is a key asset in regulating and balancing the Hungarian power grid. Wolf Theiss was uniquely positioned to advise OTP Bank, having previously advised Uniper on its divestment of the Gönyű power plant to Veolia.

The financing provided by OTP Bank and ING Bank as original lenders involved careful structuring and timing and the continuous operation of the power plant had to be aligned with the sponsor’s mezzanine financing and the interests of other stakeholders.

The Wolf Theiss team consisted of Norbert Bálint (Partner, Energy), Gergely Szalóki (Counsel, Banking & Finance), László Lovas (Associate, Banking & Finance), Tamás Pál (Associate, Energy), Viktória Horváth (Associate) and Noémi Csiki (Associate, both Banking & Finance).