Hungary: Alternative energy company ALTEO to build energy storage facility near heating power plant

, SEE Energy News

In the vicinity of Kazincbarcika heating power plant, alternative energy company ALTEO plans to build 5 MW energy storage facility.

The statement from the company said that it received a 650,000 euros EU grant and a 700,000 euros reimbursable loan for the project. The facility differs from current standard market solutions because in addition to high-performance batteries optimized for energy storage, batteries manufactured for electric cars will also be built into its system.

Research will focus on the development of a standardized energy management of batteries with various parameters. Results could open the way for additional use of batteries that are unable to perform adequately in other areas but still possess relevant capacity. They can contribute to turning the re-use of batteries of electric cars in electricity storage systems into a more developed process.

ALTEO Group has established its first 6 MW energy storage facility in Budapest in 2018.