Alteo expands wind power portfolio

The transaction, which was announced on the Budapest Stock Exchange (BÉT) on Friday, marks an important milestone in the company’s strategy. Mov-R currently operates 12 wind turbines with a total capacity of 24 MW, spread across the municipalities of Levél and Mosonszolnok in the north-west of the country. With the completion of this acquisition, Alteo increases its wind power capacity in Hungary to 71.5 MW. This brings the company’s total renewable energy generation capacity to more than 110 MW.

Compared to the previous year, consolidated net profit fell by HUF 2.7 billion to HUF 8.6 billion in the first three quarters. EBITDA totalled 14.8 billion forints, a decrease of 9% compared to the previous year. This decline is attributed to a less favourable energy market environment.