Hungary, Greenergy commissioned a 10 MW solar power plant near

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Hungarian energy company Greenergy commissioned a 10 MW solar power plant near Paks, a project worth some 10 million euros.

The power plant will generate 17 GWh of electricity in its first year, enough to power 5,500 households. The investment was financed with the proceeds from a 13.5 million euros bond issued in the framework of the Bond Funding for Growth Scheme of the National Bank of Hungary.

Greenergy CEO Laszlo Dajbukat said that the company plans significant capacity expansions in energy generation and storage, adding that tt will complete a 4 MW solar power plant in Kiskunfélegyhaza in 2023, with additional 20 MW in solar capacity in the pipeline.

Greenergy’s gas-fired power plants have a combined capacity of 50 MW and generate about 200 GWh a year. Greenery centrally regulates and aggregates output of its power plants, establishing a presence on the market as a large virtual power plant operator.

The company, established in 2007, started investing in power plants with the support of a US venture capital fund, launching its first 2 MW wind farm in the west of Hungary in 2010. Hungarian construction group KESZ acquired a majority stake in Greenergy in 2020, putting the company under domestic ownership.