Elsewedy Electric Group has secured a significant engineering, procurement, and construction (EPC) contract for the development of Hungary’s largest combined cycle power plant (CCPP). This landmark project, awarded by MVM Matra Energia Zrt., a subsidiary of the Hungarian Electric Company (MVM), signifies Elsewedy Electric’s inaugural major venture in Europe.
Strategically located in Visonta, the power plant will be developed in collaboration with Status KPRIA Zrt. and West Hungária Bau Kft. (WHB). The facility is scheduled for completion by 2028 and will be Hungary’s first hydrogen-ready power plant, capable of integrating up to 30% hydrogen into its fuel mix. This aligns with Hungary’s commitment to transitioning towards cleaner energy resources.
The contract signing was witnessed by key dignitaries, including Hungary’s Energy Minister, Egypt’s Ambassador to Hungary, and Ahmed Elsewedy, President and CEO of Elsewedy Electric. Ahmed Elsewedy remarked on the global significance of the project, emphasizing its alignment with Elsewedy’s mission of delivering long-term, sustainable energy solutions worldwide.
Wael Hamdy, Elsewedy Electric’s Group SVP & E&C CEO, highlighted the company’s extensive expertise in managing large-scale infrastructure projects and its dedication to sustainability-focused initiatives. “This project not only expands our geographical footprint but also reinforces our commitment to innovative and reliable energy infrastructure,” he stated.
Lőrinc Mészáros, owner of Mészáros Group, emphasized the project’s role in enhancing Hungary’s energy security through high-efficiency technologies and the integration of green hydrogen. This development is pivotal for Hungary, which is keen to bolster its energy infrastructure and reduce dependency on fossil fuels.
Abdelaziz El Gamal, GM for CIS & Balkans at Elsewedy Electric, commented on the broader implications for the company: “This venture reflects our capacity to penetrate new markets while maintaining our reputation for high-quality energy solutions.”
The International Energy Agency reports a growing trend in Europe towards integrating renewable energy sources, with hydrogen playing a crucial role in reducing carbon emissions. The Visonta CCPP is expected to significantly enhance Hungary’s electricity capacity and set a precedent for future energy projects across the continent.
Elsewedy Electric’s strategic partnership with MVM and local firms not only strengthens its presence in Europe but also underscores its commitment to sustainable energy solutions, paving the way for further expansion in the region.
This project marks a significant milestone in Elsewedy Electric’s journey towards becoming a global leader in innovative energy solutions, demonstrating Egypt’s potential to contribute to the global energy transition.
