RWE Power and EnBW are selling their interests in the Hungarian electricity producer Mátrai Eromu Zrt to a consortium of the Czech holding company EP Holding and the Hungarian investor Lorinc Mészáros. RWE Power and EnBW own 50.9% and 21.7% respectively of Mátra. A non-disclosure agreement was signed in respect of the purchase price.
The transaction is subject to the approval of the relevant competition authorities as well as the Hungarian energy authority and is expected to close in the first quarter of 2018.
Mátra has a generation capacity of around 960 MW and is supplied by opencast mines in Visonta and Bükkábrány. Biomass, photovoltaics and natural gas are also included in its generation mix. The company has a workforce of just over 2000 employees.
In 2016, RWE transferred its retail and grid activities in Hungary to its subsidiary Innogy. With the sale of its stake in Mátra, RWE continues to press forward with the Group’s strategic reorientation. For the generation business, this involves focusing on the core markets, that is Germany, the United Kingdom and the Benelux countries.
The transaction will involve EnBW’s shedding its non-strategic interest. The sale is in line with the restructuring of the company’s portfolio – it has been pursuing a resolute investment strategy oriented towards renewable energy since 2012.