ELSEWEDY ELECTRIC Announces Expansion into Europe with Landmark EPC Project in Hungary

●     Largest Combined Cycle Power Plant project in Hungary in decades 

●     First hydrogen fuel ready in Hungary, up to 30%

●     Project completion by 2028

ELSEWEDY ELECTRIC group, a leading provider of integrated energy, infrastructure, and digital solutions, has announced that it has been awarded a significant Engineering Procurement and Construction (EPC) contract for a Combined Cycle Power Plant (CCPP) project in Hungary. The prominent group’s first large venture in Europe, awarded by MVM Matra Energia Zrt., a subsidiary of the Hungarian Electric Company (MVM), marks a significant milestone in the company’s global expansion strategy. 

The project will be conducted at the Visonta site in the Hungarian county of Havás. It will be part of a consortium that includes ELSEWEDY ELECTRIC, Status KPRIA Zrt., and West Hungária Bau Kft (WHB). This collaborative effort aims to develop an innovative power facility to substantially enhance Hungary’s energy infrastructure and fulfill its increasing demand for efficient and sustainable energy solutions.

The Contract was inked by the MVM Mátra Energia Zrt.'s CEO, Mr. Károly Mátrai, ELSEWEDY ELECTRIC SVP - CEO of E&C, Eng. Wael Hamdy, Status KPRIA's CEO, Mr. Tamás Németh, and WHB's General Manager, Mr. Attila Paár, 

The signing that was held at The Palace of Arts in Budapest was witnessed by His Excellency Mr. Csaba Lantos, the Hungarian Energy Minister, Mr. Károly Mátrai, MVM's CEO, His Excellency Dr. Ahmed Fahmy, the Egyptian Ambassador to Hungary, Eng. Ahmed Elsewedy, the President and CEO of ELSEWEDY ELECTRIC, Mr. Lorinc Mészáros, Owner of Mészáros Group, and Mr. Attila Paár, Owner WHB Group; in addition to top executive management of all stockholders.

This will be Hungary’s largest Combined Cycle Power Plant project in decades and the first hydrogen fuel-ready plant in the country, capable of utilizing up to 30% hydrogen in its fuel mix. The project is set for completion by 2028, marking a major step in Hungary’s transition to a cleaner energy future.

Delivering short-term energy solutions

Ahmed Elsewedy, President and Chief Executive Officer of ELSEWEDY ELECTRIC, commented “For over eight decades, ELSEWEDY ELECTRIC has been committed to delivering long-term energy and infrastructure solutions that support communities and economic growth. Our first project in Hungary is a major step in our global expansion, and we see the country as a key player in Europe’s energy landscape.”

Lőrinc Mészáros, owner of the Mészáros Group, also spoke about the importance of the project and the innovative role of the new combined cycle gas turbine unit.

"This large-scale development will contribute to making our country's energy supply even more secure, more predictable, and as environmentally efficient as possible. The new power plant will use the latest high-efficiency technologies. It will also be able to use green hydrogen, a carbon dioxide-free fuel, on a large scale. This is a great professional achievement, as this innovative technical solution will be applied here for the first time in Hungary," said Lőrinc Mészáros.

Wael Hamdy, Group Senior Vice President and E&C CEO at ELSEWEDY ELECTRIC, commented: “This EPC contract is a milestone in our European expansion, showcasing our expertise in fast-track, large-scale energy projects. Our success in the Middle East and Africa has positioned us as a trusted partner for infrastructure development, and we are ready to bring our innovation and sustainability-driven approach to Hungary.” 

“This milestone project proves ELSEWEDY ELECTRIC’s ability to operate in new and complex markets. Our collaborative effort with MVM and local partners highlights our commitment to providing high-quality, dependable energy infrastructures. We are confident that this project will set the standard for future endeavors in the region,” said Abdelaziz El Gamal, General Manager for CIS & Balkans at ELSEWEDY ELECTRIC.

ELSEWEDY ELECTRIC’s entry into Hungary is driven by strategic partnerships, cutting-edge technology, and a commitment to sustainable energy. Collaborating with key stakeholders like MVM and local construction firms strengthens its ability to deliver high-profile projects. The company’s investment in eco-friendly solutions aligns with Europe’s evolving energy landscape, presenting an opportunity to enhance regional energy security and sustainability.

With this growth, ELSEWEDY ELECTRIC reinforces its role in the global energy transition and expands its international footprint. The successful completion of the Visonta Combined Cycle Power Plant will boost Hungary's electricity capacity and pave the way for future projects in Europe.