A EUR 1.5 billion development program financed by the European Union to modernize and strengthen the Hungarian electricity grid has launched, Minister of Economy and Energy István Kapitány said in a post on social media on Thursday, MTI reports.
The minister said investments from the program will help add almost 5,000 MW of new, mostly renewable energy production capacity. Network developments until 2030 will significantly help the modernization of the Hungarian energy system, the further diversification of domestic energy production, and achieving a cleaner, safer and more economical energy supply.
He noted the growing importance of renewable energy sources in the domestic electricity production and said that for new solar power plants, wind power plants and other modern energy production facilities to be built in Hungary, the grid must also be developed.
As part of the overall program, applications will open on July 2 for HUF 26.6 billion of funding from the European Union's Recovery and Resilience Facility (RRF) for installing smart electricity meters and for HUF 480 billion of funding for grid development ensuring a flexible and safe electricity network to integrate weather-dependent renewable energy sources.
Top 5 Articles
What Awaits the Hungarian Economy in 2026 and 2027? April 24, 2026 - 'Recharge' Campaign Launched to Boost Domestic Tourism January 21, 2026
- Hungary’s Growth Stalls as Inflation Returns to Target Range February 6, 2026
- Consolidating the Good Bilateral Relations May 10, 2026
- Business, Consumer Confidence at Two-Year High in April April 23, 2026
