Pannonpower to build Ft 30 bln generator blocks

Green Energy

Pannonpower Rt, a Hungarian power producer controlled by Lehman Brothers Holdings Inc., will spend Ft 30 billion ($140 million) to build two generator blocks, daily Napi Gazdaság reported, citing a company executive. Pécs, Hungary-based Pannonpower plans to build two biomass-fueled generator blocks by 2009, said László Somosi, the company's chairman and chief executive, the newspaper reported. The company may also build power plants in Slovakia and Romania, he said, according to Napi. Pannonpower is controlled by Crossroads Group, a private equity firm owned by Lehman. Hungary's government is looking to attract investors to build new power plants and help reduce the country's dependence on foreign energy, Economy Minister János Kóka said in an April 25 interview.

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.

Support the BBJ

Energy

Regional Infrastructure for Energy Diversification Needed

Economy Energy | Mar 23, 2023, 08:45

Lithuania Sets out Offshore Wind Tender Plans

Economy Energy | Mar 20, 2023, 14:45

Hungary Could Re-launch Feed-in Tariff Applications in 2023

Economy Energy | Mar 19, 2023, 10:00

Top Stories

Road Accidents With Injuries up Last Year

Economy Statistics | Mar 27, 2023, 08:15

Magyar Suzuki to Start Dual Training Courses

Business Industry | Mar 26, 2023, 14:30

Budapest Leaders Unveil Plans to Scale Back Traffic on Thoroughfares

Budapest Events | Mar 26, 2023, 11:40

Podcasts

'Agility is Crucial' - BBJ CEO Breakfast Briefing

Mar 16, 2023, 14:30

Sister Laura, Dominican Religious Sister, Economist, Author, and Co-founder of Christian Social Principles in Economy Mission Discusses Ethical Capitalism and a Human-centered Economy

Dec 2, 2022, 14:20

3rd CEO Boardroom Meeting, Nov 9

Nov 8, 2022, 14:00