Budapest, November 20 (MTI) – Hungarian oil and gas company MOL today said its Slovak unit Slovnaft, together with the state-owned Hungarian Electricity Works (MVM), had made a joint, non-binding offer for a 66 percent stake in Slovakia’s biggest electric energy company, Slovenske Elektrarne, from Italy’s ENEL.
MOL said the business partners aimed to create a synergy that could further boost energy security in the region, increase efficiency through economy of scale and “significantly raise the profitability of all of the affected companies”.
Slovenske Elektrarne has 5,739MW of power plant capacity and supplies 80 percent of the domestic market’s electricity. Three-quarters of the power it generates is “clean”, coming from two nuclear power plants and 34 hydroelectric plants.
The state of Slovakia owns the remaining 34 percent of Slovenske Elektrarne.
