Elsewedy Electric Group has secured a major engineering, procurement, and construction (EPC) contract for Hungary’s largest combined cycle power plant (CCPP) in decades. Awarded by MVM Matra Energia Zrt., a subsidiary of the Hungarian Electric Company (MVM), this milestone project marks Elsewedy Electric’s first significant venture in Europe, reinforcing its global expansion strategy.
Located in Visonta, the plant will be developed in partnership with Status KPRIA Zrt. and West Hungária Bau Kft. (WHB) to modernize Hungary’s energy infrastructure. Scheduled for completion by 2028, it will be the country’s first hydrogen-ready facility, capable of integrating up to 30% hydrogen into its fuel mix, supporting Hungary’s transition to cleaner energy sources.
The contract was signed in the presence of high-ranking officials, including Hungary’s Energy Minister, Egypt’s Ambassador to Hungary, and Elsewedy Electric President and CEO Ahmed Elsewedy. Ahmed Elsewedy emphasized that the project aligns with the company’s mission to provide long-term energy solutions worldwide. Wael Hamdy, Elsewedy Electric’s Group SVP & E&C CEO, highlighted the company’s expertise in large-scale infrastructure and sustainability-focused initiatives.
Lőrinc Mészáros, owner of Mészáros Group, underscored the project’s role in strengthening Hungary’s energy security through high-efficiency technologies and green hydrogen integration. Abdelaziz El Gamal, GM for CIS & Balkans at Elsewedy Electric, noted that this achievement reflects the company’s ability to expand into new markets while delivering reliable, high-quality energy infrastructure.
By partnering with MVM and local firms, Elsewedy Electric not only strengthens its European footprint but also reinforces its commitment to sustainable energy solutions. The Visonta CCPP is expected to enhance Hungary’s electricity capacity while paving the way for future expansion across the continent.
