Hungary: Schoenherr advises UniCredit Bank Hungary on EUR 58.9m project financing for Hungary's largest battery storage project

Schoenherr provided comprehensive legal advice to UniCredit Bank Hungary in connection with the project finance facilities, which secure long-term financing with a tenor exceeding ten years. The financing supports the construction, operation and maintenance of the Buj project, with completion expected in the first quarter of 2026. Once operational, the facility will play a key role in enhancing grid flexibility and supporting the integration of renewable energy into Hungary's power system.

"We are pleased to have supported UniCredit Bank Hungary on the financing of this landmark battery storage project, which represents an important step for Hungary's energy transition and the development of modern, resilient energy infrastructure," said Gábor Pázsitka, partner at Schoenherr, who led the team advising on the transaction.

Project Buj is developed by Greenvolt Power, part of Greenvolt Group, a leading global developer of large-scale renewable energy and battery storage projects. Once completed, the project will be the largest BESS asset in Hungary and will contribute significantly to the stability and flexibility of the national electricity grid.

UniCredit Bank Hungary, as part of the UniCredit Group, plays an active role in financing sustainable infrastructure and supporting the energy transition across Central Eastern Europe through innovative and long-term financing solutions.

The Schoenherr team advising UniCredit Bank Hungary was led by Gábor Pázsitka (Partner) and further included Nóra Ordódy-Nagy (Attorney at Law), Gergely Horváth (Attorney at Law), Viktória Hiesz (Attorney at Law), Vivien Veres (Associate), Gergő Levente Kasó (Associate) and Barbara Darcsi (Associate).