Renewables

MVM purchases hydroelectric power plant

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Published

February 24, 2015

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Published:

February 24, 2015

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State-owned MVM Hungarian Electricity Ltd. has purchased a 7.48 MW hydroelectric power plant (HPP) in Romania, more precisely a 90 percent stake, in order to “further strengthen its renewables portfolio”, Budapest Business Journal reported, citing an article in Hungarian language Romanian daily ’Kronika’.

According to the paper, the value of the transaction is approximately EUR 30 million based on a contract signed in January. The minority owner of the plant is the pension fund of the Hungarian Reformed Church of Romania. The acquisition is MVM’s first in Romania.

 

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