German renewable energy developer Greencells said that it has connected its 65 MW solar project to the electricity network, thus bringing its total installed capacity in solar energy in Hungary to 345 MW.
The new solar power plant is located in Szuegy municipality in northern Hungary and will receive feed-in tariffs for a period of 25 years. The power plant consists of more than 121,000 solar panels, with estimated annual electricity generation of 80,000 MWh, which is enough to cover the needs of some 30,000 households.
The project was financed by the local subsidiary of Italian UniCredit Bank. Greencells said that it is planning to expand the partnership with UniCredit Bank Hungary and secure funding for more projects in Hungary totaling 132 MW.
Greencells is currently developing solar projects with combined installed capacity of 201 MW in Hungary.