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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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).
A new natural gas pipeline connecting Hungary and Croatia is now operational. It is a milestone event for Croatia as for the past 33 years, the country's only access to international gas pipelines had been a single line to Slovenia.
The legal framework for the Nabucco Pipeline has been finalized on Wednesday with the signing of the Project Support Agreements between NABUCCO Gas Pipeline International GmbH and the five transit countries.
Hungary has bought back a 21.2% stake held by Russia’s Surgutneftegaz in fuels group MOL. The deal, to be completed August 31st this year, is worth EUR 1.88 billion and will be paid for from previously drawn IMF grants.
