Tuesday, August 16, 2022

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Hungary’s MVM expands its renewables portfolio with 45 solar power plants

Hungary’s state-owned energy group MVM announced that it increased its renewables portfolio by building a total of 45 small photovoltaic power plants. The company established 21 small power plants in the Eastern- and 24 in the South-Western part of Hungary with a maximum installed capacity of 0.5 megawatts (MW).

As a result of the two completed projects, greenhouse gas emissions will decrease by nearly 30,000 tons annually. The total installed capacity of the newly built power generation systems in the two regions is 26.6 megawatts peak (MWp). MVM Group now owns 110 solar parks across the country, these units generate more than 110 gigawatt-hour (GWh) of electricity every year, which covers the annual electricity consumption of about 50,000 households, or more than 100,000 people, reads the company’s statement.

Both projects were supported by the EU’s Environmental and Energy Efficiency Operational Programme (KEHOP), which aims to improve energy efficiency, curb emissions and increase the share of decentralised, environmentally friendly renewable energy sources in electricity generation.

The press statement of MVM points out that solar power plants contribute to the reduction of carbon emissions from Hungarian electricity generation, thus achieving the goals set out in the National Energy Strategy.

In Hungary’s long term energy strategy, the government has set a goal that by 2030, 90 per cent of the country’s electricity production will be carbon-neutral. The achievement of this target is based on the significant expansion of solar – and nuclear – capacity.

According to the Hungarian Transmission System Operator, the total domestic photovoltaic capacity is around 1.5 gigawatts (GW). The government plans to deploy additional solar capacities that will reach 6,000 MW by 2030 and 12,000 MW by 2040.

Earlier in June, the Hungarian Parliament passed a new law that confirms climate-neutrality by 2050 as a legally binding obligation.

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