Hungary: MVM to expand to Slovakia power market, takeover of Slovenske elektrarne feasible

, SEE Energy News

The General Director of the Hungarian energy company MVM Csaba Baji said that the nuclear energy will be used in the long run. In addition to the construction of two new blocks of the nuclear power plant Paks, also is planned a takeover of the 66 percent of the Slovak company Slovenské elektrárne. Baji said that this is a good opportunity to cover a part of Slovak electricity market.

In November last year, MVM Group and partner consortium Slovnaft filed a non-binding offer to Enel Group for the purchase of its share of 66 percent in the company Slovenské elektrárne. Baji said that the success of this offer “can provide affordable electricity in the region, ensuring energy security of the region, commitment to sustainable development, support to economic development and job creation.”

Baji promised that they are going to offer a good cooperation to the management of Slovak company, for mutual benefit. Given that two new blocks were built, in Slovakia are currently in operation four nuclear units and power plant Mochovce. MVM and Slovnaft consortium can create a group that is going to be dominant in the region with its product portfolio.

MVM group has successfully completed the previous year. The expected income for 2014 is estimated at 3.9 billion euros.