Hungary’s energy group MOL has recently announced two significant acquisitions aimed at strengthening its renewable energy and resource production capabilities. These include a gas plant along with mining plots and infrastructure, as well as a 66 MWp photovoltaic plant.
Acquisition Details
MOL has acquired the O&GD Central gas plant near Endrőd in Eastern Hungary. This facility currently produces approximately 1.1 million barrels of oil equivalent per day (boe/d). The mining plots associated with this acquisition host multiple drillable exploration opportunities, and the related infrastructure has considerable synergy potential with other MOL assets in the region. The transaction is subject to regulatory approvals and is expected to finalize in the first half of 2025.
In a parallel move, Optimum Vogt, a subsidiary of Ib Vogt, has sold 100% of its Naperőmű Farm, which oversees the construction of the 66 MWp photovoltaic plant in Ballószög, Hungary. Construction is complete, and trial runs are set to begin in January 2025.
Strategic Impact
Péter Labancz, Senior Vice President of Industrial and Corporate Services at MOL, stated, “The acquisition of photovoltaic assets in Ballószög and ongoing organic developments will raise MOL’s renewable capacities close to 200 MWp, with further transition gains in sight by leveraging renewable assets and the expertise of Alteo Plc, which is majority-owned by MOL and its partners.”
Currently, MOL Group operates six solar parks in Hungary with a combined capacity of 31.5 MWp and has an additional 13.6 MWp of solar power capacity in Croatia. In line with its strategic goals, MOL is working on further solar power investments in both countries, aiming to increase its group-wide renewable generation capacity to approximately 200 MWp by 2026.
Sources
- MOL Group Press Release
- Ib Vogt Official Website
- Hungarian Energy Regulatory Authority
