French Company Acquires the Country’s Most Advanced Gas-fired Power Plant
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The Veolia Group has fully acquired the gas-fired power plant in Gönyű (northeastern Hungary), which plays a key role in the regulation of the Hungarian electricity grid. The acquisition of the plant between the French Veolia and the German energy company Uniper Group was closed on January 6, Világgazdaság reported citing the announcement of the French company. The deal was closed almost a year after the announcement of the agreement between the two companies.
The advanced plant, with a capacity of 430 megawatts, has become an important element of Veolia’s energy regulation portfolio. The French-headquartered company announced in February 2024 that Veolia Invest Hungary and Uniper Group had signed a sale and purchase agreement for the acquisition of 100 percent of Uniper Hungary Energetikai Kft. The transaction closed earlier this month, after all necessary permits were obtained.
The Gönyű power plant is Hungary’s most modern and one of the largest combined cycle gas turbine (CCGT) power plants. It has an installed electricity generation capacity of 428 megawatts and supplies electricity to 600,000 customers.
The plant is a key element of the country’s critical infrastructure, capable of providing black start or grid restoration services in the event of a complete national power grid outage. It is also a major player in the market for system balancing services. With Europe’s transition towards renewable energy sources, and due to major intermittent fluctuations in generation, the demand for system balancing services, in particular balancing energy, is constantly increasing and the need to balance the electricity grids is growing.
This significant transaction is an important milestone for the group, a key player in the regulation and bioenergy in Hungary, in line with our GreenUp strategic plan,”
the statement quotes György Palkó, CEO of Veolia Hungary, as saying.
He added: “Our more than 25 years of experience and expertise in the sector will ensure that we can continue to operate the Gönyű power plant efficiently and safely, contributing to the stability and resilience of the Hungarian electricity system. This acquisition fits well and complements our portfolio of regulators, including an advanced virtual power control center and other existing regulating power assets.”
Fact
Veolia Hungary is a leading player in the domestic energy, water and waste management markets. Its energy business unit supplies energy to more than 72 state and municipal institutions, 68 health and social institutions and 57 industrial sites. As a district heating provider, the company is responsible for the energy supply in 16 cities, providing heating for more than 270,000 district-heated homes and public buildings. The group’s annual electricity sales cover the annual consumption of almost 623 thousand residents. The subsidiaries of its water business unit supply 15.6 million cubic meters of drinking water to residential customers every year, and also provide 193.3 million cubic meters of wastewater and stormwater drainage and treatment, serving 2.2 million residents in Hungary.
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