State-owned MVM Hungarwind invests heavily in new solar power plants

State-owned MVM Hungarwind invests heavily in new solar power plants
By bne IntelliNews August 30, 2018

MVM Hungarowind, a unit of the state-owned electricity firm MVM, plans to build 110 small solar power plants, with a maximum capacity of 0.5MW, as part of several projects across Hungary this year with European Union co-financing, the company said on August 29.

Renewable energy sources (RES) play an increasingly important role in Hungary's consumption, rising from 2.2% in 2004 to 14.5% in 2015, just above the country's commitment to the EU. The share of wind and solar energy is still minimal, while biomass makes up the majority of clean energy generation. 

Hungary managed to meet the targets by adding firewood used by individuals as part of the mix, which was due to a change in methodology. 

In Hungary's energy strategy for 2030, decision makers stressed the need for energy independence. The cornerstones for this goal are increasing energy savings and domestic renewable energy used in a decentralised manner, the integration into European energy infrastructures, and nuclear energy. Half of Hungary's energy is produced at the Paks nuclear power plant, which will be extended by two new blocks by 2026 or 2027, doubling capacity, but two blocks will go out of operation after 2030.

MVM’s new power plants will be scattered evenly across the country's main regions and are expected to start commercial operation before the end of 2018.

Once the investments are completed, the MVM group will have Hungary's biggest solar power generation capacity, the statement said.

Hungary’s biggest photovoltaic power plant, with 16 MW capacity, opened in October 2015, on premises owned by Matrai Power Plant, the largest coal-fired power plant in the country. The power plant was taken over this spring by Lorinc Meszaros, a close friend of Prime Minister Viktor Orban.

Related Articles

Hungarian businessman plans one of CEE's largest tourist developments at golf resort

Hungarian businessman Gabor Szeles is planning a large-scale tourism investment at the Zala Springs Golf Resort, Hungary’s largest 18-hole golf course, local media reported on November 19. ... more

Hungary's tourist industry on track for another record-breaking year

The number of guest nights at commercial accommodation in Hungary rose 3.1% y/y to 2.6mn in September, the Central Statistics Office (KSH) said on November 9. Hungary’s tourism industry had its ... more

Hungary's electric sports aircraft maker to launch new production plant by end-October

Hungary's Magnus Aircraft will begin production at its plant in southern Hungary at the end of the month, it was announced on October 19. Magnus was awarded HUF2bn (€6.2bn) in government grants for ... more

Dismiss