bpv BRAUN PARTNERS advised UCED on a transaction related to a billion-dollar investment in the expansion of a steam power plant in Prostějov. The plant will double its capacity to 108 MW thanks to a new fast-start gas turbine to be delivered to UCED Elektrárny Prostějov by General Electric.

The law firm bpv BRAUN PARTNERS, led by partner David Vosol and in cooperation with attorneys Alexander Pech and Michal Fógel, represented UCED in complex negotiations with technology suppliers and negotiations with the financing bank and provided comprehensive legal support in the preparation of the project and contractual documentation.

“We are pleased to have been able to assist our client in this important transaction. There are increasing opportunities for growth and development in the energy sector and we are happy to be there as our clients take advantage of these opportunities,” said David Vosol, partner at bpv BRAUN PARTNERS.

CREDITAS Group, active in the energy sector since 2013 and owned by Pavel Hubáček, one of the most successful business owners in the banking sector, primarily targets ownership interests in companies engaged in the production, distribution and trading of electricity, gas and heat. Its energy division UCED is the fourth largest energy distributor in the Czech Republic. In addition to energy distribution, it focuses on electricity and heat generation and is also a major provider of power balance services and strives to be the leader of the decentralised energy sector in the country. It plans to operate a virtual power plant in the Czech Republic with a capacity of 1,000 MW by 2030. The virtual power plant will aggregate not only renewable sources but also gas-fired power plants enabling the combustion of hydrogen as the energy source of the future.