MVM Signs Agreement for 1,000 MW Power Plant Development in Hungary
Key Ideas
- Hungarian power utility MVM partners with Turkish and Italian companies to construct a 1,000 MW combined cycle gas turbine power plant in Tiszaújváros.
- The project is part of Hungary's shift towards renewable energy sources, with the new facility being hydrogen-ready.
- The agreement is praised by Hungarian Minister of Energy Csaba Lantos as historic, marking the first baseload power plant construction in over 15 years.
- The power plant, expected to supply 7,500 GWh of electricity annually, will enhance Hungary's energy security and support its energy transition.
Hungarian power utility MVM has signed an agreement with a consortium of Turkey-based Çalık Holding and Italian company Ansaldo Energia to develop a 1,000 MW combined cycle gas turbine power plant in Tiszaújváros, Hungary. This marks the second agreement this year for MVM to build gas-fueled and hydrogen-ready facilities in former fossil fuel power plant sites. The new facility is expected to be Hungary's most efficient large-scale power plant, supplying 7,500 GWh of electricity annually. The Hungarian Minister of Energy praised the deal as historic, highlighting its importance in balancing renewable electricity production and supporting the country's energy transition. The project will replace the decommissioned traditional power plant with a modern, flexible generation capacity that can utilize hydrogen. Ansaldo Energia CEO expressed that the new power plant will meet Hungary's energy needs, incorporating advanced gas turbine technology suitable for hydrogen use. The consortium's focus on turnkey execution planning, procurement, and construction signifies a step towards enhancing Hungary's energy security and sustainable energy production.