Electricity

Hungary’s MVM plans acquisitions, deals to boost regional presence ahead of IPO

deals

Published

July 6, 2020

Country

Comments

0

Share

Published:

July 6, 2020

Country:

Comments:

0

Share

Hungary’s state-owned electricity producer MVM plans to build a regional presence through a series of acquisitions and deals before its potential initial public offering (IPO), Bloomberg has reported, citing an interview by MVM CEO György Kóbor.

Deals in Hungary have included the purchase of units from Germany’s E.ON and an unprofitable coal plant, which MVM plans to convert into a green energy site. Outside of Hungary, MVM has agreed cooperation with Serbia’s state power utility Elektroprivreda Srbije and natural gas supplier Srbijagas, with plans to open a branch in Belgrade in September, the news agency recalled.

Serbia is seen as a gateway to Bosnia-Herzegovina, Montenegro, North Macedonia, and Bulgaria

Following a meeting with Serbian Mining and Energy Minister Aleksandar Antić in Budapest in June, Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó said the two countries planned to double their cross-border power interconnection capacity and exchange. According to Kobor’s interview, MVM sees Serbia as a gateway to the markets of Bosnia and Herzegovina, Montenegro, North Macedonia, and Bulgaria.

MVM is reportedly vying for ČEZ’s Romanian assets and Innogy’s retail business in the Czech Republic

Apart from the Western Balkans, MVM is reportedly among bidders for Czech energy company ČEZ’s seven businesses in Romania, valued at EUR 1.07 billion, but Kóbor declined to comment on that in the interview. In the Czech Republic, MVM has placed a bid for the retail business of gas and electricity supplier Innogy.

Hungarian company plans to double its solar power capacity from 150 MW within a year

MVM has 150 MW of solar energy capacity in Hungary, which it plans to double within a year, and eventually boost it to 500-600 MW, according to reports. MVM’s plans also include a cross-border expansion of its 600-strong network of electric vehicle (EV) charging stations, the biggest in Hungary.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Solar power generation to increase ten times in Montenegro energy balance

Solar power generation to increase tenfold in Montenegro next year

25 November 2022 - According to the estimate in the Energy Balance of Montenegro for 2023, electricity production will drop 12.63% this year

Austria can reach 1,2 GW with additional solar in 2022

Austria set to add over 1 GW in solar power in 2022

25 November 2022 - Austria is on track to install more than 1 GW in photovoltaics this year and as much as 1.5 GW every year

Albania applications solar power 151 MW

Albania receives applications for solar power projects of 151 MW in total

25 November 2022 - Applications for solar power projects sent to the Ministry of Infrastructure and Energy of Albania include one of the largest ones so far, for 93 MW

coal phaseout see region iea

Coal phaseout in SEE: countries have made pledges, but some are still silent

24 November 2022 - The list of 40 countries with the largest shares of coal-fired power plants in electricity production includes eight in this region