Corporate History

Since its foundation in 1950, our Company has undergone the following corporate transformations:

Early years: Activities of ERBE Hungarian Company for Power Plant Investment from 1950 to the Present Time



ERBE HUNGARIAN COMPANY FOR POWER PLANT INVESTMENT (ERBE) started to operate in January, 1950. According to the Articles of Association, the scope of activities of ERBE included the implementation of investments in power plants (steam, hydroelectric power plants, mechanical and electrical equipment, transformer stations), the quality control and inspection of power plant equipment and materials, the provision of the associated consulting services, the repair and sales activities of materials in power plant projects, participation in installation works of technology systems, and finally, the commissioning of power plant equipment based on contracts for services. From 1968 ERBE was granted the right to import complete power plants and power plant equipment.
The 1970s brought significant changes: to prepare for the construction of the Paks Nuclear Power Plant. One part of ERBE’s staff participated in a further training program at the Budapest Technical University and educated at foreign nuclear power stations on the occasion of study tours to ensure the best possible preparation for the performance of the special tasks. Until 1985, ERBE provided engineering services in concluding general contracts and in the management of the erection-installation and commissioning works for the construction of four blocks of Paks Nuclear Power Plant.









The privatization of ERBE Hungarian Company for Power Plant Investment took place between 1991 and 1993. As a first step, the Service Division engaged directly at power plant construction sites was outsourced to join a limited liability company of mixed ownership structure.

The major part of the Company, comprising a staff with power plant project investment and management skills, was transformed into a limited liability company under the name of ERBE POWER ENGINEERING & CONSULTING Ltd on October 1, 1992. Since 1993, its owner has been the HUNGARIAN POWER COMPANIES Ltd (MVM).

The 1980’s: Launching a power plant reconstruction program financed by World Bank loans

In the 1980s, several power plants were operated in the electricity industry which became outdated and needed comprehensive upgrading. MVM decided to launch reconstruction projects to increase the capacities of these power plants. In the framework of this reconstruction program, the Pécs, Oroszlány, Mátra (the former Gagarin) and the Nyíregyháza Power Plants were upgraded.

To perform these jobs, ERBE was primarily engaged in the selection of contractors, conclusion of contracts, foreign trade transactions, quality control at the manufacturers and at the site, as well as commissioning and guarantee measurements.

The World Bank Loan taken out by MVM in 1986 was aimed at the implementation of this power plant reconstruction program. ERBE’s task involved the elaboration of bidding documents, conclusion and follow-up of contracts. This assignment of ERBE awarded by MVM can be regarded as of historical importance as it fundamentally influenced ERBE’s future and its further activities. In this connection, close cooperation has been established between ERBE and all Hungarian power plants and power distributor companies in the fields of implementing large power plant projects and performing high level maintenance works.

Based on the above, we are proud to state that ERBE Hungarian Company for Power Plant Investment was promoted through these activities to become a Power Engineering Company




On June 1, 2007, by adopting a new image, Hungary’s National Power Group MVM was first to get recognition in the so-called Recognised Corporate Groups in Hungary. Through the implementation of the institution of Recognised Corporate Group it is made possible for companies in parent-affiliate relation, which are independent, but, in the business sense, are still under joint control, to adopt a single business policy concept.

Through the legal institution created under Act IV of 2006 on Business Associations, parent company MVM Zrt now has a single set of effective management facilities to coordinate the business operations of the Group’s affiliates.

In the course of transformation into a recognised group, agreements were made to regulate the cooperation between the parent company and the controlled companies, and the Articles of Associations of the respective companies were amended.

In order to better suit its future role within the corporate group and to emphasize its enhanced importance, the Company was incorporated as a private limited company on December 31, 2007 with the name of MVM ERBE POWER ENGINEERING & CONSULTING Zrt.