Veolia, a leader in the energy sector, has added to its flexible energy portfolio with the acquisition of a power plant in Hungary. The power plant, located in Gönyű, boasts an impressive installed capacity of around 430 megawatts, making it the most modern and efficient facility in the country.
Meeting Growing Demand for Ancillary Services
As the demand for ancillary services continues to rise, the current flexibility volumes in the EU power system are set to double by 2030 to keep up with the increasing supply of renewable electricity. The Hungarian power plant acquired by Veolia plays a vital role in regulating and balancing the country’s power grid, thanks to its cutting-edge technologies that enable flexible production capacities.
Strengthening Position as European Energy Leader
By expanding its portfolio to include 2.4 gigawatts of managed flexible electrical energy, Veolia solidifies its position as a European leader in the energy market. This volume is equivalent to the energy needs of 2.6 million inhabitants, highlighting Veolia’s commitment to providing sustainable and reliable energy solutions.
Addressing the Shift Towards Renewable Energy
With the European energy mix shifting towards renewables and intermittent production, there is a growing need for ancillary services, particularly electrical flexibility, to balance the power grid effectively. This shift requires advanced electricity interconnection and digital expertise to aggregate production capacities and provide the grid with flexible energy volumes that can be easily adjusted as needed.
Veolia’s strategic acquisition of the Hungarian power plant underscores its dedication to meeting the evolving energy needs of a changing landscape. Veolia’s Commitment to Flexibility Capacities
Veolia is pleased to announce an agreement that aligns with its vision of developing flexibility capacities to enhance the stability of the European power grid. Estelle Brachlianoff, Veolia’s Chief Executive Officer, emphasized the importance of this agreement in contributing to the resilience of the local power system.
Transaction Details
About Veolia
Veolia Group aspires to lead the way in ecological transformation globally. With a presence on five continents and a workforce of nearly 213,000 employees, the Group focuses on providing innovative solutions for water, waste, and energy management that drive significant environmental change. In 2022, Veolia supplied drinking water to 111 million people, sanitation services to 97 million individuals, produced 44 million megawatt hours, and recovered 61 million tonnes of waste. Veolia Environnement (Paris Euronext: VIE) reported consolidated revenue of 42.885 billion euros in 2022.
For more information about Veolia, visit www.veolia.com.
