The MVM Group is spearheading an economic revival in Northern Hungary with their proposal for a 1,600 MW combined-cycle gas turbine power plant in Tiszaújváros. Situated on the grounds of a former oil-fired power plant, this brownfield endeavor promises swift development, superior efficiency, and minimal CO2 emissions.
The plant’s capability to adjust its output is crucial in balancing the inconsistent nature of renewable energy sources like solar and wind. This initiative aligns perfectly with Hungary’s ambitions to curtail energy imports and bolster domestic production, more so following the EU’s recent nod for the expansion of the Paks nuclear plant.
Tiszaújváros’ new facility is set to house two 500 MW units, whereas the Mátra Power Plant in Visonta will feature a 650 MW unit. These projects have garnered immense international attention, hinting at competitive market rates. Soon, the MVM Group will unveil a comprehensive list of consortium members, encompassing entities from Europe, Egypt, Greece, China, and Turkey.