Hungary: 430 million euros to be invested in the electricity network

, SEE Energy News

The share of solar energy in the total electricity mix in Hungary is the sixth highest in the world and the third highest in Europe, parliamentary State Secretary Zsofia Koncz said during the inauguration ceremony of a substation near Szeged. She also said that 1,100 MW of new solar capacity was added in 2022 and more than 700 MW in the first four months of 2023.

She announced that the Government is investing more than 430 million euros for the development electricity network in Hungary to enhance its flexibility. The goal is to reach 6,000 MW in solar capacity by 2030, although the target may be doubled.

In the next three years, state-owned MVM intends to increase the volume of electricity generated by solar power plants by more than 400 MW. Similar investments to increase the flexibility of the electricity network are also being carried out by MVM.

At the same time, three combined cycle gas turbine power plant units are being built to balance the influx of renewable energy.

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