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- Veolia (OTCPK:VEOEY), via its Hungarian subsidiary, has signed an agreement with Uniper for the acquisition of a power plant with an installed capacity of around 430 megawatts, strengthening its position as a European utilities company.
- Located in Gönyű, in north-west Hungary, the gas-fired combined-cycle power plant plays a crucial role in regulating and balancing the Hungarian power grid.
- “This agreement is right in line with our ambitions to develop flexibility capacities, an essential complement to the stability of the European power grid,” said Estelle Brachlianoff, Veolia’s Chief Executive Officer.
- “As a long-standing player in the Hungarian energy market, we are delighted to be able to widen our footprint in order to further contribute to reinforcing the resilience of the local power system.”
- Source: Press Release