MET Power AG acquires a majority stake in Dunamenti Power Plant
MET Power AG has acquired a majority stake in Dunamenti Power Plant, which will enable the plant’s continued operation.
The GDF SUEZ Group sold its majority (74.8%) ownership in Dunamenti Power Plant to MET Power AG, a member of MET Group. MVM Group has retained its 25.2% share.
Following the transaction, the jobs at the power plant are now secure. As the new majority shareholder, MET Power AG plans to press ahead with modernization plans at the power plant, which open the door to new job creation in the region.
The management of Dunamenti Power Plant has expressed its hope that it will continue to be a reliable partner of MAVIR (Hungarian Independent Transmission Operator Company Ltd.) and MOL Group’s Danube Refinery in Százhalombatta, which will secure the role of Dunamenti Power Plant in domestic and international power generation, and continue Dunamenti’s successful partnership with the MOL Group.
Zoltán Jászberényi, CEO of Dunamenti Power Plant, will continue in the role he has held since 2012.
At the company’s general meeting on 1 July, Balázs Lehőcz, CEO of MET Power Group and the new Chairman of the Board of Directors of Dunamenti said: “The successful operation of the power plant poses a huge challenge for MET Group, but this acquisition is well suited to the existing successful business model and dynamic regional development of MET Group.
About MET Group
MET Group is a Switzerland-based international energy sales and trading group. It is an active participant in the European natural gas, power, and oil markets and has a significant retail presence in Hungary, Slovakia, Romania and Croatia.
MET Group is present in eight countries via our subsidiaries, more than one dozen European national gas markets and trading hubs, and multiple power markets and trading hubs. We are a leader in the Central European natural gas and power markets, and an active participant in natural gas, power and oil trading across Europe. Our positions are optimized and commodity risk is managed on our trading floors in Switzerland and the United Kingdom.
MET Group has grown rapidly since its founding in 2007, and presently has more than 150 employees from more than 20 different countries. The group’s success is based on its highly qualified professionals and its commitment to understand its counterparts' needs and to quickly structure attractive tailor-made business solutions.
MET Group’s mission is to become a leading market player by implementing innovation in the traditional European energy markets.