Veolia Expands Energy Portfolio with Acquisition of Hungarian Power Plant
Veolia, through its Hungarian subsidiary, has announced its acquisition of a state-of-the-art power plant in northwest Hungary as part of its ongoing efforts to enhance its flexible energy portfolio.
The deal involves the purchase of a gas-fired combined-cycle power installation with a capacity of approximately 430 megawatts from Uniper. Situated in Gönyű, the plant is renowned as the most modern and efficient of its kind in Hungary, playing a crucial role in the regulation and balance of the country’s power grid.
With the demand for ancillary services on the rise, Veolia recognizes the importance of electrical flexibility to accommodate the growing intermittent production of renewable energy. The company currently manages a substantial 2.4 gigawatts of flexible electrical energy, meeting the needs of around 2.6 million inhabitants.
“Flexibility capacities are crucial for the stability of the European power grid,” emphasized Estelle Brachlianoff, Veolia’s CEO. This acquisition, she explained, aligns perfectly with Veolia’s mission to develop these essential capacities and establish itself as a leading force in ecological transformation.
Veolia has a strong global presence, employing approximately 213,000 professionals and offering practical solutions for water, waste, and energy management. In 2022 alone, it provided drinking water to an astounding 111 million people, sanitation services to 97 million, produced nearly 44 million megawatt hours, and recovered an impressive 61 million tonnes of waste.
The completion of the acquisition is subject to obtaining the necessary authorizations and compliance with relevant regulations. Veolia remains committed to its goal of becoming the benchmark company for ecological transformation and looks forward to further strengthening its presence in the energy sector.
Analyst comment
Positive news: Veolia expands its energy portfolio with the acquisition of a state-of-the-art power plant in Hungary, enhancing its flexible energy portfolio. The plant’s capacity and efficiency will help accommodate the growing intermittent production of renewable energy. This aligns with Veolia’s mission to develop flexibility capacities and establish itself as a leader in ecological transformation. The acquisition will strengthen Veolia’s presence in the energy sector. Market outlook: Favorable for Veolia as it further establishes its position in the energy market.
