MVM Tisza Erőmű Kft. (MVM Tisza) has signed a long-term syndicated loan agreement worth EUR 1.2 billion to finance the investment in the combined-cycle gas turbine (CCGT) power plant in Tiszaújváros.
The 16-year syndicated loan, provided by eleven banks, is backed by the Italian export credit agency SACE S.p.A. and represents the largest credit facility in the history of the MVM Group. Citibank, N.A. London Branch and ING acted as lead arrangers, while Intesa Sanpaolo S.p.A., London Branch served as facility agent and export credit agency coordinator.
The investment will result in a 1,000 MW power plant consisting of two units, partially capable of operating on hydrogen. The facility is designed for high efficiency and low carbon intensity. It is intended to meet Hungary’s growing domestic electricity demand, support the integration of additional renewable energy sources into the power grid, and contribute to the country’s energy transition.
The implementation of the project has been entrusted to an international consortium comprising Calik Enerji Swiss AG and Ansaldo Energia S.p.A., based on a contract signed in Budapest in April this year.