Veolia agreed to buy the stake in the summer and closed the acquisition on December 28, after approval by the Hungarian Competition Authority (GVH). Veolia did not disclose the price of the stake.
The plant is fueled mainly with biomass, but also burns some coal. Veolia said it wants to reduce the amount of coal used by the plant.
Veolia previously bought and upgraded Central Europeʼs biggest biomass-fueled power plant, in Pécs (SW Hungary), in 2007. It acquired another biomass-fueled plant in Szakoly (NE Hungary) in 2016.
Bakonyi Erőmű generated net revenues of HUF 13 billion in 2016, public records show. The plant has 285 people on its payroll, making it one of the biggest employers in Ajka.
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