Second Integrated Report of ALTEO has been published: financial strength and commitment to sustainability are the priority focus of company listed on the stock market

In addition to the 2019 financial results, ALTEO’s second Integrated Report includes the company’s sustainability report as well. Thanks to persistent building of operations, ALTEO has become one of the defining players of the domestic energy sector in 2019.

The company continues to strengthen its position among so-called ESG companies who focus on sustainable mindset and keeps utilizing the business opportunities of the energy segment. (The abbreviation ESG – Environmental, Social and Governance – refers in international practice to companies, investors and investment firms who place special emphasis on sustainability in their operations.)

The three-year investment cycle announced in 2016 has come to a close in 2019, during which the company realized in excess of HUF 20 billion investment and development volume, mainly focusing on renewable energy sources. The solar power investments in Monor, Nagykőrös and Balatonberény have been delivered, and with the purchase of the wind farm park in Bőny, an acquisition has also taken place. As a result, the power plant portfolio leaning on renewable energy has expanded to a total of 54 megawatts, which translates to over 50 percent of the entire power plant capacity of the company. The reconstruction of the hydroelectric plant in Gibárt was also launched in 2019.

The company has launched its Waste Management Division in the spirit of circular economy. In addition, reacting to the problem of energy storage, one of the greatest challenges of our time, ALTEO has – following a successful test operation in Zugló – unveiled its electrical energy storage facility with 6 MW capacity, one of the first in the CEE region and completed its integration into the company regulatory center.