Hungary in talks on partnering in pumped-storage plant in Germany
Image by Shutterstock.com
Hungary is in talks about partnering in the construction of a pumped-storage power plant in Germany, the Innovation and Technology Ministry said on Sunday.
Innovation and Technology Minister László Palkovics held talks with the owners of Germany's Max Aicher group on Saturday on the state joining a project to build a 450MW pumped storage plant in the south of Bavaria.
Max Aicher has offered the state of Hungary "a significant stake" in the plant, the ministry said.
Hungary's relatively flat geography is not well suited for pumped storage plants, it noted.
The Hungarian government has "fostered good business ties" with Max Aicher group for many years and earlier acquired a 20% stake in the group's Hungarian steelworks, Ózdi Acélművek, the ministry said.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.