ABO Wind AG, a major professional player in the renewable energy market, is launching a 5.2 MW solar power plant to the south of Debrecen, eastern Hungary, after a successful transaction in which Deloitte Legal advised the German firm, according to a press release sent to the Budapest Business Journal.
The project is already ABO Windʼs second solar panel project in Hungary, as it is also developing a 4.95 MW solar power plant in the region, which is expected to be completed in the first half of 2019.
The transaction, agreed on at the end of last year, was concluded on January 28, resulting in ABO Wind acquiring the licensed project company. This means that the German firm is now eligible to build a solar power plant.
As a consultant, Deloitte Legal Erdős and Partners Law Firm helped ABO Wind in the acquisition of the Hungarian project company, while Deloitteʼs advisors assisted in tax and financial matters.
"We are proud to be cooperating in ABO Windʼs newest Hungarian project, providing them legal, financial, and tax advisory services," said Balázs Várszeghi, leading attorney at Deloitte Legalʼs energy law group. "We believe that the increase in interest towards using renewable energy sources, also experienced in Hungary, will open the door for further developments by both domestic and international investors."