EP Energy, a.s., has, through its subsidiary company EP Hungary, a.s., 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 MWt), Újpest (105 MWe and 421 MWt) and Kispest (113 MWe and 366 MWt). 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 and endorsement by the Hungarian regulator, and authorisation by the French Ministry of Economy is also required.