Official: Contract signed for the development of the new block at Mátra Power Plant
The contract for the development of a new combined cycle gas turbine block at Mátra Power Plant has been signed, allowing the detailed design and preparation of construction work to begin in Visonta for the large-scale power plant using innovative technologies, Hungarian energy giant MVM reported on Tuesday.
Representatives of MVM Mátra Energia Plc., part of the MVM Group, signed the contract on the client side. On behalf of the three-member consortium that previously won the public procurement procedure for the construction of the new power plant and long-term maintenance of the gas turbine, the document was authenticated by executives from Status KPRIA Plc. (part of the Mészáros Group), West Hungária Bau Ltd. (100% Hungarian-owned, part of WHB Group), and Elsewedy Power System Projects (part of Elsewedy Electric, one of Egypt’s leading industrial and energy conglomerates).
MVM’s statement
According to the statement, Energy Minister Csaba Lantos emphasised that the Hungarian state supports historically significant developments in the domestic energy sector and is committed to green and sustainable solutions. The minister called the signing of the contract extremely good news, as it has been about a decade and a half since a base-load power plant was last commissioned in Hungary.
The construction of the new power plant is a crucial step for domestic energy policy, as it simultaneously contributes to strengthening Hungary’s energy independence, enhancing security of supply, and achieving climate goals. The new facility will play an important role in balancing renewable electricity production, thus realising a successful energy transition, said the minister.
The statement quotes Lőrinc Mészáros, owner of the Mészáros Group, who said that the large-scale development contributes to making Hungary’s energy supply even safer, more predictable, and as environmentally efficient as possible. The new power plant will use the most advanced high-efficiency technologies during its operation. Moreover, it will be capable of utilising green hydrogen, thus carbon dioxide-free fuel, on a large scale. This is a significant professional achievement, as this innovative professional solution will be applied for the first time in Hungary, said Lőrinc Mészáros according to the statement.
Károly Mátrai, CEO of the MVM Group, emphasised that the new gas turbine power plant in Visonta, as part of MVM Group’s 2035 strategy, facilitates the growth of weather-dependent renewable electricity production, and its system regulation capability allows it to contribute to maintaining stable domestic electricity production by replacing the capacity of lignite-fired blocks.
This development ensures the continuity of Mátra Power Plant’s operation, which is also crucial for local employment and economy. According to preliminary surveys, the vast majority of residents in the surrounding settlements support the investment, which reinforces the social acceptance of the project and contributes to the sustainable development of the region, said the CEO.
Elsewedy Electric’s comments
Ahmed Elsewedy, Chairman and CEO of Elsewedy Electric, the owner of Elsewedy Power System Projects, the foreign member of the three-member consortium commissioned with the development project, said, among other things, that Elsewedy Electric has been committed to developing energy and infrastructure solutions for more than eight decades.
He explained that they are proud of their role as an integrated infrastructure solutions provider, and they specialise in accelerated, turnkey projects that help power industries and nations. This is the company’s first project in the country. Hungary performs exceptionally well on Europe’s energy palette, which is why we want to play an active role in developing its infrastructure for many years to come, said Ahmed Elsewedy.
Statement by Egypt’s Ambassador to Hungary
Ambassador Dr. Ahmed Fahmy, Egypt’s Ambassador to Hungary, witnessed, in the presence of Mr. Csaba Lantos, the Hungarian Minister of Energy, the signing ceremony of the contracts for the tender to construct a mixed-fuel power plant in Hungary with a total capacity of 540 megawatts, representing 10% of Hungary’s total electricity production. The tender was awarded to a consortium led by Egypt’s Elsewedy Cables, with the project expected to be completed by 2028.
During the signing ceremony, the Egyptian Ambassador highlighted the distinguished strategic partnership between Egypt and Hungary and the growing political and economic cooperation between the two partner countries. He emphasised Egypt’s commitment to expanding frameworks of joint cooperation, particularly in investment and trade sectors, to meet the aspirations of the two friendly peoples for development and prosperity.
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