CEZ and MOL signed a strategic alliance agreement in December 2007. A joint venture in which each party has 50% equity interest, equal voting rights and similar split of operational decision making, will focus on gas-fired power generation and related gas infrastructure in 4 countries of Central and South-eastern Europe, including Slovakia, Hungary, Croatia and Slovenia.
The first major investment is the planned construction of CCGTs at the refineries of the MOL group in Bratislava (Slovakia) and Százhalombatta (Hungary). At each location the installed capacity will be 800 MW. In addition, in Bratislava, the current thermal plant will be modernized and its capacity increased to 160 MW. The expected investment cost in both projects will be approximately 1.4 billion EUR.