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Budapesti Erőmű completes Ft 13.7 bln investment

Power company Budapesti Erőmű Zrt, owned by Electricite de France, has completed a Ft 13.7 billion update at its Kelenföld power plant in the south of Budapest, the company announced on Tuesday.

When the investment started in November 2004, Budapesti Erőmű said it would replace the plant's steam turbines and boilers and would also expand the plant. The project was to have added another 14 MW to the plant's capacity, bringing it to 186 MW. Alstom Power Hungária Rt and Schneider Hungária Rt were the general contractors for the project. Construction works were carried out by Vegyépszer Zrt, and Budapesti Erőmű paid for 70% of the project's costs with loans.
The Kelenföld plant generated 3,000 terajoules of thermal energy and almost 600 GWh of electricity in 2005, according to Budapesti Erőmű's report for the period. The company sold 1,432 GWh of electricity and 9,136 terajoules of heat energy during the year. Budapesti Erőmű provides 60% of Budapest's district heating.
Budapesti Erőmű had HAS after-tax profits of Ft 1.997 billion in 2005, of which Ft 1.437 billion was paid as dividend. Revenue came to Ft 38.633 billion in 2005.