Following approval from the Hungarian Competition Authority, MOL Group completed the acquisition of the Szarvas Biogas Plant aiming to expand its renewable energy portfolio and accelerate the region’s green energy transition.
The company reached an agreement with BayWa AG in May for the acquisition of the plant, which represents an important milestone in the long-term strategy of the Budapest-based energy group.
The Szarvas Biogas Plant is one of the largest biogas facilities in the Central Eastern Europe. The waste processing facility utilizes organic waste to produce electricity and heat through combined energy production, with an approximate peak capacity of 4 megawatts (MW) of electricity. Annually, the plant processes over 40,000 tons of waste to produce over 12.5 million cubic meters (mcm) of biogas.
Located in a region where MOL is actively engaged in exploration and production activities, the acquisition of the power plant offers outstanding synergies and aligns perfectly with the long-term SHAPE TOMORROW 2030+ strategy of MOL Group. The strategy revolves around achieving two primary objectives: accelerating the green energy transition and promoting the establishment of a circular economy in the region. This strategic move allows MOL to contribute significantly to the EU’s energy independence efforts while simultaneously reducing its environmental footprint.
“MOL Group continuously expands its bio and renewable energy production portfolio to accelerate the green energy transition and enhance regional energy security. The acquisition of the Szarvas Biogas Plant presents an excellent opportunity for us, as it allows us to capitalize on valuable synergies within the company while supporting the EU’s energy independence efforts. Through this acquisition, we contribute to the implementation of the REPowerEU action plan, which prioritizes biogas and methane production,” said Ádám Horváth, Group Downstream New and Sustainable Businesses Vice President at the MOL Group.