Trustify to Develop a Solar Park in Kiskunhalas

Trustify Investment Fund Management is providing funding for the development of a 40 megawatt solar park and related storage capacity in Kiskunhalas, the company's communications agency told MTI on Monday.

According to the NEST Communications agency, the private equity fund management company is primarily looking for capital investment opportunities that focus on the production and use of renewable energy sources and that can significantly contribute to strengthening Hungary's energy independence.

In mid-December, Trustify invested in two ready-to-build (RTB) projects with a capacity of 20-20 megawatts and a grid connection license. The construction of these facilities with a total capacity of 40 megawatts is scheduled to start in January.

Trustify will also start developing storage capacity for the solar farm, expected to be operational in the second quarter of 2025, which the fund manager believes is a critical factor for the financial return on any solar farm investment.

It also reports that there has been a huge upturn in green investments worldwide. At the COP28 climate conference in November 2023, more than 100 countries pledged to triple their renewable energy capacity by 2030.

The International Energy Agency (IEA) predicts that between 2024 and 2030, a total of 5.5 terawatts of new renewable energy capacity could be installed worldwide, a significant increase from the previous two terawatts installed between 2017 and 2023.