Energy generation

The energy generation member companies of the MVM Group support the fulfilment of the Shareholder’s and strategic expectations as key, solid pillars (maintenance of nuclear capacity, increase of dynamic renewable capacity, flexible, clean dispatchable portfolio and regional growth), and they significantly contribute to the success of the Group by providing stable and reliable electricity generation.

In 2020, the generation units of the MVM Group sold a total of nearly 19.4 TWh of electricity, accounting for 62.5% of the national net power plant output. About 80% of this amount, 15.17 TWh, was generated by MVM Paks Nuclear Power Plant Ltd. and about 15%, i.e. about 3.1 TWh, by the lignite-fired units of Mátra Power Plant Ltd. By the end of the year, electricity generated on a renewable basis was more than 700 GWh at group level, which is 3.5% of the total amount generated. Due to our developments and the successful implementation of strategic actions, electricity generation by the MVM Group is already about 83% carbon neutral.

The 11 flexible-operation, high-efficiency gas turbines ensuring the continuous, uninterrupted operation of the Hungarian electricity system and maintaining its balance operated with the expected availability also in 2020. We also took advanced steps with a view to the future since in addition to the extension of the operating licence of the Lőrinci Power Plant of MVM Balance Ltd. and the integration of Tisza Power Plant Ltd., we also launched a new 5 MW / 10 MWh battery energy storage project.

The district heating generation equipment of the MVM Group continued to perform its tasks fully in 2020, in addition to meeting the heat demand of local district heating providers, the cogeneration units also performed their tasks arising from system-level balancing to a high professional standard. We restarted the Miskolc Combined Cycle Power plant shut down in 2014, which successfully completed accreditation by the system operator as well. The power plant operates reliably and, due to the upgrades carried out, it is also able to meet the more stringent EU environmental regulations in the longer term, in addition to significantly improving its parameters required for system-level balancing.

The first phase of the Renewable Programme was completed in 2020, the establishment of two installed photovoltaic power plants with a capacity of over 

0.5 MW (41 MW in total) and 108 units with a capacity of less than 0.5 MW was completed, and the integration of the latter into a joint venture began. In addition, the renewable portfolio of the Group also continued to expand through acquisitions, so MVM Green Generation Ltd. now has a total of 166 MW of solar power capacity, which doubled its generation last year with their annual power output of 208 GWh.