A major renewable energy project is advancing in Hungary after the European Bank for Reconstruction and Development (EBRD) agreed to provide €70 million in financing to Renalfa IPP. The company is jointly owned by Renalfa Solarpro Group and Rgreen Invest.
The EBRD funding is part of a broader €210 million financing package, arranged together with commercial lenders, and will support the development of a large hybrid energy complex in northeastern Hungary. The project combines a 450 MW solar portfolio with integrated battery storage capacity of 250 MW and 1 GWh, making it one of the most ambitious hybrid renewable systems in the region.
The initiative is among the first project-financed hybrid renewable developments of its kind in Central and Eastern Europe. Once completed, it is expected to become one of Hungary’s largest clean energy installations, generating approximately 448 GWh of electricity annually.
A key feature of the project is its market-based revenue model. Unlike many earlier renewable developments, the electricity produced will be sold directly on the open market, without reliance on subsidies or long-term corporate power purchase agreements. This reflects growing investor confidence in merchant renewable assets and the long-term competitiveness of clean energy technologies.
The integrated battery storage system will also provide grid flexibility services, helping to balance fluctuations in renewable output and improve system stability. The combination of solar generation and storage is expected to deliver more consistent and reliable green electricity supply once the project becomes operational.
For the EBRD, the financing also marks a return to Hungary’s energy sector, representing its first major energy investment in the country in over a decade. Overall, the institution has committed more than €3.7 billion across over 200 projects in Hungary, spanning multiple sectors of the economy.
