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Alpiq Csepel to spend €370 mln to double power plant capacity by mid-decade

Alpiq Csepel, formerly Atel Csepel, plans to spend about €370 million to add another 400MW of capacity to its power plant in Budapest by the middle of the decade, Alpiq Csepel managing director Gábor Briglovics said.

The investment is in the project development phase, Briglovics said. A final decision is expected in 2011, he added.

The new capacity would also be a combined-cycle gas-turbine plant, but have efficiency of 57%-58%, well over the 49%-50% efficiency of the existing plant.

Alpiq Csepel's plant currently has capacity of 400MW, but it generated about 50% less electricity in 2009 because of the crisis, Briglovics said. Because the company was flexible, profits were similar to those in 2008, he added.

Profits will fall in 2010 because of price-indexing in Alpiq Csepel's contract with the state-owned Hungarian electricity works MVM, he said.

Alpiq's electricity sales unit had revenue of HUF 80 billion in 2009, up from HUF 35 billion in 2008, Briglovics said. Profits were significant, he added, though declining to give a firm figure. (MTI – Econews)