Hungary's second largest gas power plant acquired by new owners
Hungary's second largest gas power plant acquired by new owners
The acquisition of one of Hungary's most significant and advanced gas-fired power plants has successfully concluded. The deal, conducted between the French Veolia Group and the Hungarian subsidiary of the German Uniper, was supported by the BDO Corporate Finance team from the start to the finish.
Successful completion of Gönyü power plant sale with BDO Corporate Finance's expertise
The transaction, announced in early 2023, marked the change of ownership for one of Hungary's largest combined-cycle gas turbine power plants. The facility in Gönyü, located in Győr-Moson-Sopron County, was acquired by Veolia Invest Hungary Zrt., the Hungarian subsidiary of the Veolia Group, through the purchase of the full stake in Uniper Hungary Energetikai Kft.
BDO Corporate Finance played a pivotal role in ensuring the success of the transaction. The team provided comprehensive support throughout the process, including financial valuation, due diligence, transaction management, and financing arrangement. This significant deal represents a milestone in the Hungarian energy market, with BDO Corporate Finance’s expert team contributing through high-level expertise and innovative approaches.
Importance of the power plant
Commissioned in 2011, the power plant boasts a total capacity of 428 MW, making it one of Hungary’s largest electricity producers. It plays a vital role in the market for system-level balancing services. With its excellent efficiency, it supplies nearly 8% of the country’s electricity production, ensuring stable energy supply for approximately 600,000 consumers.
Backed by a German state rescue package
The sale was enabled by the process in which the German state provided a rescue package to Uniper, which had been heavily impacted by the economic effects of the energy crisis and the Russian-Ukraine war. The European Commission approved a €13.5 billion aid package, which came with conditions: Uniper was required to sell stakes in ten different projects by the end of 2026, including the Gönyü power plant. The completion of this obligation culminated in this significant transaction.
The deal is expected to have substantial implications not only for Hungary’s energy market but also for the broader region. With its global expertise, Veolia, the new owner, is likely to further enhance the facility’s efficiency and market role.
Successful completion of Gönyü power plant sale with BDO Corporate Finance's expertise
The transaction, announced in early 2023, marked the change of ownership for one of Hungary's largest combined-cycle gas turbine power plants. The facility in Gönyü, located in Győr-Moson-Sopron County, was acquired by Veolia Invest Hungary Zrt., the Hungarian subsidiary of the Veolia Group, through the purchase of the full stake in Uniper Hungary Energetikai Kft.
BDO Corporate Finance played a pivotal role in ensuring the success of the transaction. The team provided comprehensive support throughout the process, including financial valuation, due diligence, transaction management, and financing arrangement. This significant deal represents a milestone in the Hungarian energy market, with BDO Corporate Finance’s expert team contributing through high-level expertise and innovative approaches.
Importance of the power plant
Commissioned in 2011, the power plant boasts a total capacity of 428 MW, making it one of Hungary’s largest electricity producers. It plays a vital role in the market for system-level balancing services. With its excellent efficiency, it supplies nearly 8% of the country’s electricity production, ensuring stable energy supply for approximately 600,000 consumers.
Backed by a German state rescue package
The sale was enabled by the process in which the German state provided a rescue package to Uniper, which had been heavily impacted by the economic effects of the energy crisis and the Russian-Ukraine war. The European Commission approved a €13.5 billion aid package, which came with conditions: Uniper was required to sell stakes in ten different projects by the end of 2026, including the Gönyü power plant. The completion of this obligation culminated in this significant transaction.
The deal is expected to have substantial implications not only for Hungary’s energy market but also for the broader region. With its global expertise, Veolia, the new owner, is likely to further enhance the facility’s efficiency and market role.
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