The European Investment Bank (EIB) has agreed to lend €100m to the Hungarian power company Magyar Villamos Művek (MVM) to modernise its power transmission network and upgrade Hungary's power interconnection capacity with Slovakia. The loan will be guaranteed by the European Fund for Strategic Investments (EFSI) and is the first direct EFSI corporate loan in Hungary. The funds will be allocated to MVM's subsidiary MAVIR under the framework of its 2018-2022 investment programme.
MAVIR and its Slovak counterpart SEPS are considering a new 1 000 MW interconnection (two 400 kV lines) between Hungary and Slovakia, connecting Gönyu to Gabčíkovo in Slovakia and an 800 MW line from Sajoivanka to Rimavska Sobota (Slovakia). The projects are not expected before 2020. Two new 400 kV lines between Kisvarda (Hungary) and Vel'ke Kapusany (Slovakia) are under consideration (by 2029).