Electrical flexibility: Veolia Acquires a State-of-the-art Power Plant in Hungary From Uniper
19 Februar 2024 - 9:10AM
Business Wire
Regulatory News:
Veolia (Paris:VIE):
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> 430 megawatts complete Veolia's flexible energy portfolio
to meet the needs of resilient power systems.
> Demand for ancillary services continues to grow, with
current flexibility volumes in the EU power system needing to be
doubled by 2030 to keep pace with the growth of fluctuating
renewable electricity supply1.
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Veolia, 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.
Located in G�nyű, in north-west Hungary, the gas-fired
combined-cycle power plant is the most modern and efficient in the
country. It plays a crucial role in regulating and balancing the
Hungarian power grid, thanks to cutting-edge technologies that make
its production capacities flexible.
With this operation, Veolia continues to strengthen its position
as European leader in this promising and strategic market, and to
expand its portfolio, which now represents a volume of 2.4
gigawatts of managed flexible electrical energy, equivalent to the
energy needs of 2,6 million inhabitants.
In the context of European energy mix evolution towards more
renewables and therefore more intermittent production, demand for
ancillary services, and in particular electrical flexibility,
continues to grow, with a rising need for power grid balancing. It
requires both enhanced electricity interconnection and operators
with cutting-edge digital expertise to aggregate the production
capacity of several power generation units and provide the grid
with flexible energy volumes that can be introduced or withdrawn
from the grid as required.
"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."
Completion of the transaction remains subject to obtaining the
necessary authorizations and complying with applicable
regulations.
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ABOUT VEOLIA
Veolia Group aims to become the benchmark company for ecological
transformation. Present on five continents with nearly 213,000
employees, the Group designs and deploys useful, practical
solutions for the management of water, waste and energy that are
contributing to a radical turnaround of the current situation.
Through its three complementary activities, Veolia helps to develop
access to resources, to preserve available resources and to renew
them. In 2022, the Veolia group provided 111 million inhabitants
with drinking water and 97 million with sanitation, produced nearly
44 million megawatt hours and recovered 61 million tonnes of waste.
Veolia Environnement (Paris Euronext: VIE) achieved consolidated
revenue of 42.885 billion euros in 2022. www.veolia.com
____________
1Flexibility solutions to support a decarbonised and secure EU
electricity system report (sept 2023)
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