MVM Makes Green Transition a Pillar of Long-term Strategy

Green Energy

State-owned energy group MVM has made the green transition a pillar of its new strategy running until 2035, CEO Károly Mátrai said in an interview with index.hu published on Wednesday.

MVM plans to make infrastructure investments in the coming 10-12 years that support a reduction in greenhouse gas emissions and an advance toward carbon neutrality, Mátrai told the news portal.

"We're going to undertake power plant and grid upgrade investments that reduce greenhouse gas emissions by at least 50%," he added.

Diversifying MVM's portfolio is another pillar of the strategy, Mátrai said.

"In addition to regulated businesses such as transmission system operation, running distribution networks, or gas storage, we want to build a strong portfolio of market products to establish a healthy balance," he added.

He suggested that achieving that goal could involve streamlining, as the company didn't want to "spread its resources thin", and said MVM would focus on business areas in which it could be among the top three market players.

MVM also aims to be a "customer-oriented and adaptive organization", while striving for "financial excellence", Mátrai said.

He noted that maintaining MVM's current credit rating, or improving it parallel with a sovereign upgrade, was a "top priority".

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