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 […]
State-owned energy company MVM Group inaugurated a 132/22 kV electrical substation in Miskolc (NE Hungary), built using HUF 2.7 billion of European Union, government and corporate financing. Energy Minister Csaba Lantos said at the event that rapid growth of renewable sources poses new challenges for the energy grid, so the development of substations is essential. […]
MVM Tisza Power Plant Ltd. is implementing its latest investment in the power plant area with the help of a total of 4.185 billion forints in non-repayable European Union funding. A battery energy storage unit with a nominal capacity of 31 MW and a capacity of 62 MWh is being built at the Tiszaújváros site […]
By mutual agreement, the sale and purchase agreement concluded between the MVM Group and the E.ON Group on December 16, 2024, concerning the purchase of a 68% stake in E.ON Energie Romania and a 98% stake in E.ON Asist Complet, would be terminated this Friday, MVM informed MTI. In its announcement, MVM emphasizes that it […]
MVM Plc. will pay an interim dividend of HUF 131.5 billion to its sole shareholder by November 30, according to an announcement by MVM Energetika Plc. published on the Budapest Stock Exchange website. According to the announcement, MVM Plc. decided on the payment in view of its first-half performance and stable financial position. Based on […]
Hungarian energy provider MVM Group and US-based Westinghouse signed a contract this Saturday aiming to diversify nuclear energy supplies to Hungary, MVM said, adding that Westinghouse will provide long-term, stable deliveries of VVER fuel for the Paks nuclear plant. Pending permits, deliveries may start in 2028, the statement said. MVM CEO Károly Mátrai said the […]
MVM OVIT Manufacturing, a unit of state-owned energy group MVM that makes substations and other transmission system infrastructure, has inaugurated state-of-the-art steel surface preparation and automatic painting equipment at its base in Göd, just north of Budapest, MVM Group informed MTI on Friday. According to the announcement, the new production line, consisting of two main […]
The MVM Group achieved consolidated sales revenue of HUF 2,015 billion in the first six months of this year, following HUF 2,156 billion in the first half of last year, and its after-tax profit was HUF 221.8 billion, compared to HUF 222.0 billion in the same period last year, the company announced on the Budapest […]
Waberer's Logistics Segment and MVM Group have agreed on a new three-year strategic cooperation, under which they will develop a unified, efficient logistics and transport system in the energy sector. The agreement will contribute to increasing MVM's security of supply and operational efficiency, Waberer's Group informed MTI on Friday. The announcement states that Waberer's, which […]
MOL Plc. has notified the market on the website of the Budapest Stock Exchange (BSE) that the MOL Group and the MVM Group have entered into an oil trading agreement aimed at further diversifying the region’s energy supply portfolio, with a particular focus on landlocked Hungary and Slovakia. Through this cooperation, MOL says it could […]
MVM Group's profit fell by 12% year-on-year to HUF 324 billion last year, the company, which is a dominant player on the electricity market in Hungary, told MTI on Wednesday. Turnover fell by almost the same amount to HUF 4,534 billion by the end of 2024. The decline was attributed to the impact of energy […]
MVM Green Generation Plc., a renewable energy company of the MVM Group, is installing a 20 megawatt-hour electricity storage facility in Sopronkövesd, NW Hungary next to its owned and operated wind farm, with a capacity of 20 megawatt-hours of electricity, MVM Green Generation Plc. informed MTI on Tuesday. Hungary's Recovery and Resilience Plan provides HUF […]
MVM Energy Private Limited Liability Company has informed the market participants on the website of the Budapest Stock Exchange about an agreement on the takeover of E.ON’s Romania unit. The announcement states that E.ON Group and MVM Group have reached an agreement on the sale of E.ON’s retail and customer solutions business in Romania. Under […]
MVM Démász Transmission Ltd. handed over a modern substation in Soltvadkert, central Hungary, to ensure a secure power supply and to serve the high energy demand of new investments, the company informed MTI on Wednesday. According to the statement, the MVM group's power grid companies are placing great emphasis on modernizing and expanding the existing […]
The Hungarian energy conglomerate MVM Group has acquired a stake in one of the world's largest deep-sea natural gas fields, following the closing of a transaction between the MVM Group and Azerbaijan's state-owned Southern Gas Corridor CJSC on Friday, MVM told MTI. With the transaction, MVM has acquired a 5% stake in the Shah Deniz […]
