MVM Lays Cornerstone of HUF 600 Bn Power Plant

With the ceremonial laying of the cornerstone, one of the most significant developments in the Hungarian energy system has entered a new phase, and construction has begun on the combined-cycle gas turbine power plant in Tiszaújváros. The investment is a key element of state-owned MVM Group’s long-term strategy, which aims not only to meet growing electricity demand but also to ensure the secure integration of renewable energy sources, the Group says.

In his speech, Energy Minister Csaba Lantos emphasized that “after a decade and a half, Hungary is once again undertaking the construction of base-load power plants in Tiszaújváros and Visonta. The transformation of the global energy system requires new types of capacity. Alongside the rise of renewable energy sources, modern power plants capable of responding quickly and flexibly to current demands are essential. The Tiszaújváros investment is a key element of the future energy mix and plays a decisive role in strengthening security of supply and ensuring uninterrupted service for Hungarian families and businesses.”

The CEO of the MVM Group, Károly Mátrai, said that “the Tiszaújváros power plant is part of a deliberate construction effort: we are developing an energy system that is stable, flexible, and sustainable all at once. This investment represents a qualitative leap in domestic electricity generation and serves the goal of ensuring that the system can adapt to the changing market and technological environment in the long term.”

As the head of the consortium, Ahmet Çalık, Chairman of Çalık Enerji, highlighted, “we have 17 GW of installed capacity worldwide, and we place great importance on leveraging our experience in combined-cycle power plants and our strong team of experts in this project as well. It is particularly important to us that this investment aligns with the vision of Hungary and the European Union, which aim to transition from coal-based energy production to natural gas-based technologies, as these also support the Çalık Group’s sustainability goals.”

The facility to be built at the Tisza Power Plant site will consist of two units, each with a capacity of 499 MW, which are expected to supply an average of 7,500 GWh of electricity annually to the Hungarian power grid. The first unit is scheduled to come online in 2029, and the second in 2030. Thanks to its rapidly controllable, high-efficiency technology, the power plant will play a key role in increasing the flexibility of the energy system, particularly in balancing weather-dependent generation.