Hungarian oil and gas company MOL Group said Friday it has agreed to acquire the Szarvas biogas plant in Hungary from Germany’s BayWa AG.
The biogas facility, said to be one of the largest in Central Eastern Europe, is a combined heat and power generator with a peak electric power capacity of around 4 MW. It processes organic waste, including from meat production and livestock farms.
MOL says it is looking to expand its biofuel portfolio in line with the goals of the EU’s Renewable Energy Directive and the REPowerEU plan. The acquisition also offers synergy opportunities as the plant is located in an area where the company has exploration and production activities, which creates the possibility to leverage infrastructure for upgrading biogas products.
MOL further expects to gain know-how and best practices knowledge to support the development of its sustainable portfolio.
