On Thursday, Budapest-based multinational oil and gas company MOL signed a contract to acquire Polsolar Kft., that owns five fully operational solar power plants near MezÅ‘csát in eastern Hungary. The combined capacity of the solar power plants is 304 megawatts peak (MWp), that will quadruple the company’s solar energy portfolio, MOL Nyrt. announced on Thursday on the Budapest Stock Exchange website.
The enterprise value specified in the transaction is approximately HUF 118 billion (EUR 308 million). After net debt and other adjustments, a cash payment of HUF 64 billion (EUR 167 million) will be made to the seller (for the shares and shareholder loan of Polsolar Kft. combined), calculated at year-end closing. MOL estimates the internal rate of return (IRR) of the acquisition at approximately 10 percent, wrote the announcement.
The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals.
The five solar power plants together generate enough electricity to supply approximately 170,000 Hungarian households.
The project has already proven that it can generate approximately USD 38 million in EBITDA annually (Earnings Before Interest, Taxes, Depreciation, and Amortization), MOL stated in the announcement.
The announcement quoted György Bacsa, MOL Group’s strategic managing director, who said that the acquisition of the MezÅ‘csát solar park will nearly quadruple the group’s solar energy capacity, marking an important milestone in their efforts to increase their presence in renewable energy sources. This is in line with MOL’s strategy and low carbon emission plans, and will create value for its shareholders from day one, he noted.
Via bet.hu, MTI; Featured image: MTI/Hegedüs Róbert
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