FILE PHOTO: The logo of Veolia Environnement is seen at the company’s headquarters in Aubervilliers near Paris, France, February 12, 2024. REUTERS/Gonzalo Fuentes
(Reuters) – Veolia has agreed to buy a 430-megawatt, gas-fired power plant in Hungary from German energy firm Uniper, the French utility said on Monday.
The gas-fired, combined-cycle power plant is in Gönyű, north-west Hungary.
It helps to provide flexible electricity generation capacity, which is crucial as more intermittent renewable capacity comes online and European countries need flexible baseload capacity that can come on or offline quickly to balance their grids, Veolia said.
“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.
Financial details were not disclosed. The purchase agreement was done via Veolia’s Hungarian subsidiary and the transaction is subject to obtaining the necessary authorisations andcomplying with regulations, the firm added.
(Reporting by Nina Chestney; Editing by Mark Potter)
News Related-
Google Pixel 8 Pro Review: Is this the best Android phone of 2023?
-
Namwater Dam Bulletin on Monday 27 November 2023
-
Dr Yunus appointed chair of Moscow Financial University's international advisory board
-
Victory over Nigeria puts Uganda on the brink
-
BoG holds policy rate at 30%, tightens liquidity measures
-
When sea levels rise, so does your rent
-
American International School CEO honoured as ‘Icon of Inspiration and Impact’
-
Sierra Leone prison breaks co-ordinated - minister
-
Address the rise of single parenthood
-
Hyundai Chief Picked as Auto Industry Leader of the Year
-
Unmarried People Under 35 Outnumber Married Ones
-
European interior ministers in Hungary to discuss migration
-
Japan on the watch for unlicensed taxis around Narita airport amid foreign tourism spike
-
ECOWAS to send high-powered delegation on solidarity visit to Sierra Leone