MVM Buys Huge Solar Power Plant in Tázlár

Under an agreement signed this Wednesday, MVM Green Generation Ltd. will acquire the 63 MWp Tázlár solar power plant in S Hungary, according to a statement issued by the MVM Group. The transaction is expected to close in the first quarter of 2024.

The announcement comes just after the publication in Thursday night's OFFICIAL Hungarian Gazette of a government resolution allowing for the acquisition of ownership in certain solar power plants through the exercise of state pre-emption rights, which must be transferred to MVM within six months.

The solar power plant in Tázlár is huge: the plant, which covers more than 100 hectares on the outskirts of the municipality, has 115,000 solar panels and produces a total of 85,000 MWh of carbon-neutral energy per year, further reducing the specific CO2 emissions of the electricity sector.

MVM's statement recalls that the group's continuously expanding renewable generation capacity is a major contribution to the green transition and "this ESG investment will bring the MVM Group's renewable portfolio to 600 MWe, thus making a major contribution to Hungary's decarbonization targets.”

The MVM Group's consolidated accounts for the first half of this year show that by the end of June it had 402 MW of renewable generation capacity, and now it announces the purchase of 63 MW of capacity, which will bring its total renewable capacity to 600 MW. This means that since the summer, the group's renewable capacity has been increased by other renewable capacities, and with this 63 MW purchase, there is indeed a big leap in terms of the total renewable capacity of the group as a whole.