Hungary’s state-owned MVM does not intend to bring Russian gas to the Romanian market but envisages developing a platform to develop, integrate, and sell green energy, the company’s CEO Károly Mátrai argued in an interview with Bursa.ro. The price offered for the Romanian assets of E.ON is “correct” and even at the lower end of the range suggested by peer comparison with other deals in Europe, he said, rejecting speculations about his company’s offer exceeding the economic calculations.
Mátrai underlined that MVM is already investing in renewable energy and energy transition projects in Romania, with a 2035 strategy that includes Romania as a regional expansion market.
He further argued that MVM is already a partner of Romania’s state-controlled power grid operator, Transelectrica, in the Azerbaijani, Georgian, Romanian, and Hungarian-owned Green Energy Corridor, a project company that received approval for investing in Romania in July 2025.
“Romania is and will remain an important country for our investments in hydro, solar, and retail projects,” said Mátrai.
The MVM CEO praised Romania’s “huge potential for renewable energy generation, especially wind and solar,” saying that this is MVM’s other major strategic objective.
“This acquisition provides us with a scalable platform to develop, integrate, and commercialise green energy. We see a clear path for the decarbonization of the acquired supply portfolio, aligned with MVM’s own sustainability objectives. With this transaction, we acquire a foundation on which to build a significant renewable energy hub,” he explained.
Romania’s Foreign Direct Investment Review Commission (CEISD), reviewing the deal in mid-August, has not approved the sale of E.ON’s electricity and gas supply subsidiary to Hungarian state-owned company MVM. The final ruling will be taken by the Supreme Council of National Defence (CSAT) within 90 days.
German energy group E.ON announced in December 2024 that it had reached an agreement with MVM for the sale of its gas and electricity supply operations in Romania, along with the services unit E.ON Asist Complet. The value of the transaction was not disclosed, though market sources estimated it at between EUR 200 million and EUR 210 million.
The deal had been expected to close in the first half of 2025.
iulian@romania-insider.com
(Photo source: Mvm.hu)
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