Uniper Completed Divestment of Natural Gas Power Plant in Hungary

SEATTLE (Oil Monster): German Uniper SE announced that it has completed divestment of a natural gas-fired power plant located in Gonyu, Hungary to Veolia Invest Hungary Zrt- a local subsidiary of Veolia SA.

The financial details of the transaction were not revealed in accordance with the conditions of the contract. The EU state assistance law's requirements are met by the sale of the non-strategic investment. In order for the German government to approve the company's bailout, the European Commission must approve the divestment. It should be mentioned that in late 2022, the German government promised to invest $25.8 billion in Uniper and acquired approximately 99% of the company's shares.

Uniper claims that the 2011-commissioned power facility can produce up to 430 megawatts. It contributes significantly to the regulation and balancing of the Hungarian power system by giving it access to variable amounts of electricity that may be added or removed as needed.

In December of last year, Uniper began bidding for its 18.26% interest in AS Latvijas Gaze in order to meet bailout requirements. The Uniper-agreed divestitures must be finished by 2026.

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