Electricity

Hungary awards EUR 158 million for 440 MW of energy storage

hungary batteries energy storage tender

Foto: iStock

Published

April 26, 2024

Country

Comments

0

Share

Published:

April 26, 2024

Country:

Comments:

0

Share

The Hungarian government has allocated HUF 62 billion (EUR 158 million) for energy storage projects with an overall 440 MW in operating power.

Hungarian authorities launched the tender for grid-scale batteries on January 15 and received offers until February 5.

The winning bidders were selected a few days ago. They are set to install around fifty energy storage facilities, the Hungarian Ministry of Energy said.

The selected companies and organizations must complete the installation of batteries by the end of April 2026.

With the successful implementation of the program, domestic energy storage capacity can be increased by about twenty times within two years, the ministry stressed . It added that with current mechanisms it is providing support to households and businesses to produce and store green energy with HUF 200 billion (EUR 510 million) in total.

The government is approving subsidies for the construction and operation of energy storage systems

The subsidies were secured from the National Recovery and Resilience Plan and the state budget. They consist of non-refundable investment support and income compensation for the construction of industrial energy storage facilities and their operation, respectively, for at least ten years. Operational support is planned to be provided through two-way contracts for difference (CfDs).

With funds obtained within a previous program, the country’s transmission system operator MAVIR is already building a 20 MW energy storage system in Szolnok in central Hungary, the ministry noted.

CATL intends to open a factory in Hungary

Of note, Minister of Foreign Affairs and Trade Péter Szijjártó said in October 2023 that Hungary was fourth in global terms in the production of batteries, but that it would soon move up to the second place, Hungary Today reported.

In August 2023, Contemporary Amperex Technology Co., Ltd (CATL) announced it would invest EUR 7.34 billion in the construction of a battery plant in Debrecen, Hungary, with 100 GWh in annual capacity. It would be the Chinese company’s second factory in Europe. CATL is the world’s biggest manufacturer of batteries for electric vehicles and energy storage systems.

A month later, Slovenia-based Andrada Group revealed plans to build a battery recycling plant in Alsózsolca in northeastern Hungary.

The ministry said that Hungary has set its 2030 energy storage goal at 1 GW in the updated National Energy and Climate Plan.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

energy-intensive-industries-serbia-CBAM

Serbia’s energy-intensive industries brace for CBAM, seek state support to apply decarbonization solutions

22 May 2024 - Companies in Serbia are not afraid of decarbonization and CBAM, but are worried the state does not recognize what needs to be done to help the affected industries

Serbian industry Messer Tehnogas decarbonization Mirjana Jukic Belgrade Energy Forum

Serbian industry leader Messer Tehnogas preparing decarbonization investments

21 May 2024 - Messer Tehnogas, the main gases producer in Serbia, is looking to cover a large part of its electricity needs with photovoltaics

Romania starts work on energy communities legislation

Romania starts work on energy communities legislation

21 May 2024 - Romanian citizens will have the right to get electricity at lower prices via energy communities, Minister of Energy Sebastian Burduja said

Alcazar Energy Partners final close USD 490 million renewables fund

Alcazar Energy Partners reaches final close of USD 490 million for renewables fund

21 May 2024 - The Alcazar Energy Partners II SLP-SCSp, a Luxembourg-domiciled sustainable infrastructure fund, reached a final closing of USD 490 million