Deloitte Legal assisted ABO Wind in its investment in Hungary
ABO Wind AG, a major player on the renewable energy market has begun the development of a 5.2 megawatt peak solar plant in the south of the town Debrecen. This is the second solar project of the company in Hungary; the German firm received assistance from Deloitte Legal.
Budapest, 29 January
During the transaction signed in late 2018 and completed on 28 January 2019, ABO Wind acquired the special purpose vehicle. As such the German firm is eligible for the construction of a solar plant in the south of Debrecen. This plant would be capable of a performance of 5.2 megawatts. During the purchase of the Hungarian SPV, ABO Wind received legal assistance from Deloitte Legal Erdős and Partners Law Firm, in addition to tax and financial advice from Deloitte Zrt.
This project is the German firm’s second solar engagement in Hungary; a similar development was carried out by the company in the nearby area, where a 4.95 megawatt solar plant will be constructed in the first half of 2019. ABO Wind’s plans include further activities in Hungary.
Founded in 1996, ABO Wind is an experienced project developer employing over 500 people; it develops renewable energy projects in Germany and abroad. ABO Wind takes on all steps of project development from site acquisition to construction. The company purchases projects at all stages of development and brings them to a successful conclusion. So far, the company has connected about 670 wind, solar and biogas power plants to the electricity grid all over the world, with a total performance of 1500 MW. The company is currently working on 4000 megawatts of wind power plants and 600 megawatts of solar power plants in 16 countries.
Dr Balázs Várszeghi, leader of the energy law team of Deloitte Legal stated that
We are proud to have contributed to ABO Wind’s latest engagement in Hungary by providing legal, financial and tax advisory services. We believe that the increased interest in renewable resources both in Hungary and elsewhere will provide opportunities for Hungarian and foreign investors alike.