This is where Hungary will build its new gas power plants

Last week, Hungarian Prime Minister Viktor Orbán announced that new gas power plants would be built in the country. He explained the decision by highlighting the increased demand for energy from domestic investments. It was also revealed that the power plants would be built in the eastern region of Hungary.

Since then, the Ministry of Energy has announced the exact location of the power plants and the details of how the project would be financed, forbes.hu reported.

The plans

Three combined cycle gas turbine (CCGT) power plants are planned to be built in Hungary. Two of them will be built in Tiszaújváros and one in Visonta. The blocks in Tiszaújváros will be built at the base of MVM Tisza Power Plant. The two power plants will have a maximum capacity of 500 MW each. The plant to be built in Visonta will be on the site of the Matra Power Plant owned by MVM Matra Energy Ltd. This block will have a maximum capacity of 650 MW. The two units in Tiszaújváros will be able to generate an average of 5,200 GWh of electricity per year, while the one in Visonta will have a capacity of 3,800 GWh per year.

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How the investment is financed

Orbán said last week that the final form of funding had not been decided. At that point, EU funds and foreign investment were also among the options. Now, however, it has been revealed that the project will be financed by public funds. The state-owned MVM Group is

launching open, conditional tenders for the construction of the power plant blocks,

forbes.hu writes.

The objectives

According to the ministry’s statement, CCGT plants have several advantages. One advantage is that these plants can be built relatively quickly. The construction of the three power plants in Hungary is expected to take 3 to 3.5 years. Other advantages are that these power plants have a high level of efficiency, with low specific carbon dioxide emissions and controllable power outputs.

The construction will also make use of existing infrastructures, in line with environmental standards. For example, the power plant in Tiszaújváros will be built on a site where an earlier decommissioned oil-fired power plant is currently located.

In addition, the new plants will be able to be integrated into a system with thousands of megawatts of solar capacity. Another reason for the new plants is that the planned blocks will also be able to generate electricity by burning hydrogen to some extent.

As the three power plants will be able to serve the growing energy demand, the ministry believes that this development will greatly contribute to stimulating investments and creating jobs. They also aim to reduce Hungary’s energy dependence by boosting domestic electricity generation.

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Source: forbes.hu