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Veolia, a French utility company, has reached an agreement to acquire a gas-fired power plant in Hungary from Uniper, a German energy firm. This deal, valued at 400 Mn euros ($448 Mn), marks Veolia's entry into Hungary's energy market.
The power plant, located in Szazhalombatta near Budapest, has a capacity of 400 MW and primarily uses natural gas to generate electricity. This acquisition aligns with Veolia's strategy to expand its presence in Central and Eastern Europe and reinforces its position in the energy transition sector.
Veolia aims to integrate this power plant into its existing energy operations, leveraging its expertise in environmental services and resource management. The company is committed to sustainable development and intends to enhance the plant's performance while reducing its environmental impact.
Uniper, on the other hand, is focusing on its core markets and businesses, streamlining its portfolio to drive value for its stakeholders. The sale of the Hungarian power plant is part of this strategic realignment.
The transaction is subject to regulatory approvals and is expected to be completed by the end of 2024. Once finalised, Veolia will assume ownership of the power plant and begin implementing its operational and environmental improvement plans.
Veolia's acquisition of the Hungarian gas-fired power plant from Uniper represents a significant move in the company's expansion strategy in Central and Eastern Europe. This deal underscores Veolia's commitment to sustainable energy practices and its aim to contribute to the region's energy transition.
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