EDF AND EP ENERGY SIGN DEFINITIVE AGREEMENT FOR THE SALE OF 95.6% of Budapesti Erőmű
EP Energy, a.s., has, through its subsidiary company EP Hungary, entered into an agreement with France-based E.D.F. International (EDF) on the sale of its majority stake in Hungary-based Budapesti Erőmű Zrt. EP Energy will therefore acquire more than 95% of the shares in a company that owns three gas-fired cogeneration (combined heat & power) plants: Kelenföld (with an installed capacity of 188 MWe and 395 MWth), Újpest (105 MWe and 421 MWth) and Kispest (113 MWe and 366 MWth). These CHP plants meet almost 60% of the demand for heat in Budapest and generate approximately 3% of Hungarian electricity.
The transaction is subject to approval by the Hungarian anti-monopoly authority, endorsement by the Hungarian regulator and authorisation by the French Ministry of Economy is also required.