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RWE plans €750 mln lignite-fired power plant in Hungary

RWE AG, Germany's second-biggest utility, said it plans to spend €750 million ($960 million) with partners to build a lignite-fired power plant in Hungary.

The power station would have a capacity of 400 megawatts, the Essen, Germany-based company said yesterday in a faxed statement. RWE said the Bükkábrány strip mine would also be expanded as part of the project. Going ahead with the new plant is dependent on the Hungarian government agreeing to issue it with enough emissions certificates for the next 14 years, RWE said. RWE's Mátra unit would build the plant together with MVM Rt., Hungary's state-owned power company, and Energie Baden-Wuerttemberg AG, the company said yesterday. (Bloomberg)