MVM Group expands renewable portfolio with new solar power plant acquisitions

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Hungary’s MVM Group continues to expand its renewable energy production portfolio in line with its recently published strategy. The company’s subsidiary engaged in renewable energy production, MVM Zöld Generáció signed two agreements in May to acquire additional solar power plants.

With the contracts concluded a total of 249 megawatt-peaks (MWp) of installed capacity in solar power plants will come into the possession of the MVM Group. The power plants involved in the transaction are located in four different locations across the country, in areas with varying environmental characteristics, and have capacities ranging from 3 MWp to 63 MWp each, said MVM Group.

As part of the transactions expected to be completed in the second half of 2024, the power plants will be transferred to MVM Zöld Generáció, MVM Group’s subsidiary engaged in renewable energy production.

“With its continuously expanding renewable production capacity, MVM Group significantly contributes to the realisation of the green transition,” said the company adding that through these investments MVM Group’s renewable portfolio will approach a capacity of 900 MWp, contributing to Hungary’s decarbonisation goals.

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