Hungary has joined a tripartite agreement involving 22 EU member states, EU institutions, and industry players to accelerate the development of energy storage in Europe, István Kapitány, the country's economy and energy minister, has said on social media.
"Energy storage is key to future energy supply, helping to integrate renewable energy more effectively, make grids more flexible and secure, and reduce energy costs for Hungarian consumers," he said.
The 22 member states have pledged to create 45 GW of storage capacity between 2026 and 2028, with Hungary contributing 700 MW of new capacity, he added.
This strengthens security of supply and energy sovereignty, and complements the previously announced grid upgrades and the expansion of wind energy capacity.
This strengthens energy security and sovereignty and complements previous grid upgrades and wind energy expansions, the minister explained. "This is another example of EU-level cooperation that serves the success of Hungarian people, businesses and industry," he added.
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