Hungarian oil and gas company MOL has announced two major acquisitions in Hungary: the O&GD Central gas plant and a 66 MW solar power project.
MOL acquired the O&GD Central gas plant, located near Endrod in eastern Hungary, along with associated mining plots and infrastructure. The plant currently produces around 1.1 million barrels of oil equivalent per day, and the mining plots offer several exploration opportunities. The purchase is expected to create synergies with MOL’s existing assets in the region. The transaction is still awaiting regulatory approval and is expected to be finalized in the first half of 2025.
In addition, MOL has acquired Naperomu Farm, a subsidiary of Optimum Vogt, which is responsible for the construction of a 66 MW solar power plant in Balloszog, Hungary. Construction of the plant is complete, and trial operations are set to begin in January 2025. MOL’s Senior Vice President of Industrial and Corporate Services, Peter Labancz, stated that this acquisition, along with other ongoing renewable energy projects, will bring MOL’s total renewable energy capacity to nearly 200 MW. He highlighted the company’s plan to further expand its renewable energy portfolio, leveraging its stake in Alteo, a company where MOL holds a majority share.
Currently, MOL operates six solar power plants in Hungary with a combined capacity of 31.5 MW, as well as an additional 13.6 MW of solar capacity in Croatia. As part of its strategy, MOL aims to expand its renewable energy generation to around 200 MW by 2026, with further investments in solar power across Hungary and Croatia.
