MOL Group has agreed on a deal with BayWa AG on the purchase of Szarvas Biogas Plant in Hungary, a waste processing plant using organic wastes to produce electricity and heat through cogeneration with a peak electric power capacity of around 4 megawatts (MW).
The plant processes more than 40,000 tonnes of waste a year from meat production in the region and another 53,000 tonnes of residual waste (such as slurry and manure) from neighbouring livestock and meat processing farms.
In addition, around 18,000 tonnes of agricultural substrate is used as feedstock for the plant, altogether which produces in excess of 12.5 million cubic meters of biogas.
MOL Group said it strives to expand its biofuel portfolio to meet the goals set by the European Union’s Renewable Energy Directive.
This acquisition is also in line with the aims of the REPowerEU action plan, which has set a high target for biogas and methane production to reasonably increase the overall energy independence of the European Union.
The company added that a sense of responsibility for the security of the energy supply in the Central and Eastern European region is a fundamental part of its identity and mindset for operation and development.
The acquisition of the Szarvas Biogas Plant represents a strong opportunity for MOL Group to expand its sustainable energy production portfolio, with the potential to realise valuable synergies inside the company.
The plant not only possesses one of the largest biogas production capacity in Central Eastern Europe, it is also located in an area where MOL’s exploration and production activities are present and active.
The organisation said this creates a unique synergy by providing infrastructure to the biogas facilities for upgrading their gas products.
MOL Group signs acquisition of Szarvas Biogas Plant
