Saturday, June 22, 2024
HomeElectricityE.ON to launch large-scale network investments in Hungary

E.ON to launch large-scale network investments in Hungary

Electricity distributor E.ON Hungária has announced the launch of 74 billion Hungarian forints (190 million euros) of network investments to increase grid flexibility and to accommodate growing renewables capacitites.

The investment will add 726 megawatts (MW) of capacity to the network until 2026. Half of the investment cost will come from Hungary’s European Union Recovery and Resilience Facility (RRF) funding, which the government is pre-financing.

Attila Steiner, the state secretary responsible for energy and climate policy at the Ministry of Energy of Hungary, emphasised that these investments strengthen Hungary’s security of supply and energy sovereignty. In the past period, solar installations were connected to the grid much faster than planned in Hungary and domestic solar capacity already exceeds 4,000 MW, he explained adding that for further development, the network must be able to integrate the energy produced.

He reminded that electricity will be particularly important in the coming period, however, the electricity network was designed for the distribution of energy produced in large power plants, therefore it must be transformed to be able to distribute locally produced, clean energy, he said, adding that improving the flexibility of the network will help to integrate weather-dependent renewables capacities.

Attila Steiner emphasised that they would also like to support similar projects at other distribution companies, as well as Hungary’s electricity transmission network operator, MAVIR.

He underlined that the EU had cleared 163 billion Hungarian forints in RRF funding for Hungary, which the government is pre-financing to make sure these investments are happening as soon as possible, allowing 3,000 MW of solar power capacity to be hooked up to the electricity network.

Last year, E.ON Hungaria received more than 130,000 requests to hook up household solar panels to the network, which exceeds the combined number of requests in the previous ten years, revealed Ádám Katona, deputy CEO in charge of the network adding that this growth can only be balanced by network development on a similar scale.

“E.ON Hungária plans to build flexible networks capable of connecting new capacities, serving growing energy demands and further strengthening the security of supply,” explained the Deputy CEO.

Sign up for our newsletters

    Monthly newsletter – Delivering the most important energy stories of the month selected by our Editor-in-chief
    Weekly Oil&Gas roundup - All major news about the oil and gas industry, LNG developments, the upscaling of new gases and related EU regulations arriving in your mailbox every Monday.
    Weekly Renewables&Climate roundup - All major news about investments in renewable energy sources, environment protection, green hydrogen and new innovative ways to tackle the climate crisis arriving in your mailbox every Tuesday.

    Most Popular