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Biomass-fueled power plant owner files for bankruptcy protection

Recycling

Liget Bioenergia Művek, the majority owner of a HUF 14 billion biomass-fueled power plant financed by the state-owned Hungarian Development Bank (MFB) and commercial peer K&H Bank, has filed for bankruptcy protection, business portal Gazdasag.hu said on Monday.
Liget Bioenergia Művek inaugurated the plant, financed in equal part by MFB and K&H Bank, in 2009. The plant's operator, Dél-nyírségi Bioenergia Művek, is also majority-owned by Liget Bioenergia Művek. Japan's Tohoku Epko is a minority stakeholder. The economic crisis as well as the regulatory changes made the plant unviable and it shut down in 2011.

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