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Energy industry

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ALTEO’s wind power plant in the outskirts of Jánossomorja | source: ALTEO

New ALTEO projects in the pipeline

D&T
Aug 3, 2017

The Hungarian energy services firm ALTEO could launch new projects in a total value of close to HUF ten billion (some EUR 32 million): three power plants utilizing a total of 18.1 MW of solar power, and a 2 MW wind power plant.

President and CEO of Siemens Co. Ltd. Dale A. Martin speaking at the ceremony | Zoltán Máthé/MTI

New Siemens turbine blade plant expansion

D&T
Jun 21, 2017

Siemens expanding its gas and steam turbine blade plant at its Power and Gas plant facility in Budapest with an investment of EUR 32.5 million (some HUF 10 billion). The expansion is planned to create 150 new jobs for technicians.

Work at GE Power and Water in Verseegyház

GE Veresegyház plant increases efficiency

D&T
Jun 14, 2017

General Electric is on its way to transform from a traditional industrial company (manufacturing machines and equipment) to a digital industrial company. Its Veresegyház factory enhances its production efficiency using its own digital technologies.

Biomass power plant foundation stone laying ceremony in Szabadegyháza | souece: alternativenergia.hu

New biomass power plant to be built in Hungary

D&T
Mar 31, 2017

The foundation stone for Hungrana Ltd.’s latest biomass power plant has been laid in Szabadegyháza, this Friday. Hungrana’s existing biomass power plant burns 60,000 tons of hay and 12-15,000 tons of sunflower husk pellets annually.

| MVM

European loan to Hungary's MVM

D&T
Dec 18, 2014

The European Investment Bank (EIB) is lending EUR 100 million to state-owned MVM Hungarian Electricity Ltd to finance the implementation of its investment program for the period 2013-2018. The EIB loan will facilitate development projects.

| MTI/Prime Minister's Office/Barna Burger

Hungarian PM signs nuclear deal in Moscow

D&T
Jan 14, 2014

Russia will lend up to EUR 10 billion to Hungary to help build two new units at the Paks nuclear power plant. This was announced after President Vladimir Putin agreed on a co-operation deal with visiting Hungarian Prime Minister Viktor Orbán.

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MVM doubles revenue in three years

D&T
Jan 8, 2014

The state-owned Hungarian Electricity Works (MVM) plans further rapid expansion after quick growth in recent years, more than doubling its revenue this year from 2010, the Chief Executive Officer of the company Csaba Baji told a press conference.

| D&T Archive

Hungary buys back minority stake in Fõgáz

D&T
Dec 18, 2013

The Hungarian state struck a deal on buying out Germany utility RWE’s share in Fõgáz, the capital city’s gas distributor. The buyer is the Hungarian Electricity Works (MVM) and the subject of the transaction is RWE’s 49.83% stake in Fõgáz.

| ina.hr

MOL open share sale to Croatian government

D&T
Oct 4, 2013

Hungarian oil and gas company MOL says that if the company decides to sell its shares in its Croatian subsidiaryINA , it will consult with the Croatian government as a potential buyer. The issue is raised as MOL's CEO is wanted in Croatia for questioning.

MVM CEO

E.ON companies sold to Hungarian state firm

D&T
Oct 2, 2013

E.ON has concluded an agreement to sell its 100% stakes in E.ON Földgáz Trade and E.ON Földgáz Storage to MVM Hungarian Electricity Ltd. The purchase price for both companies, including the assumption of debt, is around €870 million.

E.ON CEO Johannes Teyssen (on the left9 with Hungarian PM Viktor Orbán | portfolio.hu

Hungary to buy E.ON's Hungarian gas units

D&T
Nov 30, 2012

Hungarian Prime Minister Viktor Orbán and E.ON Chairman-CEO Johannes Teyssen have signed a letter of intent, which states that state-owned energy firm MVM will buy the German utility company's gas trading and storage units located in Hungary.

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Stake in Vietnamese-Hungarian firm sold

D&T
Apr 4, 2012

PHI Group, Inc., a company focused on energy and natural resources, announced that it has signed an agreement to acquire a 51% equity interest in Vietnam-Hungary Technological Application Joint Stock Company (VHC).

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