MVM Tisza Erőmű, a unit of state-owned energy company MVM Group, inaugurated a 31MW/62MWh battery storage investment in Tiszaújváros (E Hungary), MTI reports.
The investment was supported by HUF 4 billion in grant money from the European Union.
MVM CEO Károly Mátrai said the investment is part of MVM's long-term development strategy, which aims to increase the flexibility of the electricity grid, improve the efficiency of network integration of renewable energy sources and strengthen security of supply.
The CEO noted the battery storage facility was built at the same base where MVM is building a combined cycle gas turbine (CCGT) power plant with a capacity of around 1 GW.
The CEO said MVM Group currently has 124MW/215MWh of battery storage facilities in its portfolio and storage capacity is expected to climb to 141MW by the end of the year, while they aim to reach 500MW by 2030.
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