Wolf Theiss advises OTP Bank on the financing of the Vértes Power Plant modernisation

Budapest, 5 March 2026 – Wolf Theiss advised OTP Bank, a leading banking group in the CEE region, on the project financing to be provided to Veolia Group for the refinancing of the modernisation of the Vértes Power Plant in Oroszlány.

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.

As part of the transaction, Wolf Theiss advised OTP Bank in relation to the refinancing of the project aimed at refitting the coal-fuelled Vértes Power Plant and converting it into an environmentally neutral biomass power plant, in line with Veolia’s green energy portfolio goals.

Wolf Theiss advised OTP bank on all Hungarian law aspects of the refinancing, including the preparation and negotiation of the financing documentation and the structuring of the security package. The mandate also covered legal support throughout the transaction process and coordination with the borrower and other stakeholders involved in the project.

The core Wolf Theiss team comprised Zoltán Faludi (Partner, Energy), Gergely Szalóki (Counsel, Banking & Finance), Ádám Lukonits (Senior Associate, Energy), László Lovas (Associate, Banking & Finance), Virág Lőcsei (Associate, Energy), Viktória Horváth (Associate) and Noémi Csiki (Associate, both Banking & Finance).