Hungary takes the lead in Central Eastern Europe to join the European Battery industry’s goals to secure a successful green transition within the automotive and energy sector with a strong battery industry in order to achieve the national as well as the European climate-goals. The Hungarian Ministry of Innovation and Technology in cooperation with EIT […]
Despite the pandemic,the Hungarian energy service provider firm ALTEO continued to grow, reaching sales of nearly HUF 5.5 billion in the 3rd quarter of 2020. A quarterly report by the company says that since a significant portion of the profitability of ALTEO’s activities is less vulnerable to changes in the economic cycle, the principal focus […]
In the first half 2020, both the revenue and net after-tax profit increased significantly at the Hungarian energy company ALTEO Group. The 33% increase in sales revenue was accompanied by a 120% rise in after-tax profit. A report by the Group says the growth achieved not only reflects the success in investment and acquisition activities, […]
Hungarian-owned energy service and trading company ALTEO Plc. has concluded a stock purchase agreement for the acquisition of Pannon Wind Power Generator Ltd. for HUF 1,153,000,000 from EIH Ltd. The execution of the stock purchase agreement is the first step in the transaction. The ownership of the business interest in Pannon Ltd. will be transferred […]
Hungary's electricity consumption has been growing steadily over the last ten years, reaching 45.7 terawatt hours last year after 45.4 terawatt hours the previous year, mainly due to the rapid spread of electricity-powered household and industrial technologies and digitization. The Hungarian Independent Transmission Operator Company Ltd. (MAVIR) also reports that last year, winter peak loads […]
MFGK Croatia d.o.o., the Croatian subsidiary of Hungarian Gas Storage Ltd. (MFGK), part of the MVM Group, has signed a package of agreements to book a capacity of up to one billion cubic meters of gas annually for a period of almost seven years in the Krk LNG terminal in Croatia from January 1, 2021. […]
