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TVK buys power plant from ÉMÁSZ

Green Energy

Hungarian chemical company TVK, a subsidiary of oil and gas company MOL, announced Friday that it agreed to buy 74% of power plant TVK-ERŐMŰ in northern Hungary from regional power distributor ÉMÁSZ. 

TVK's holding in the power plant will grow to 100%, as it already owns a 26% stake, TVK announced on the website of the Budapest Stock Exchange.

To be closed in the first half of next year, the deal will enhance the security of TVK's energy supply, the company said without mentioning financial details.

According to earlier information, the joint venture power plant company had registered capital of HUF 2.87 bln.

The combined cycle plant has been built ten years ago with a cost of HUF 10 bln by Alstom Power with specifications to produce 34MW per hour of electricity and 250 tons per hour of steam. Besides TVK, it also serves MOL's Tiszai Finomító refinery.

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