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Chinese Firm to Start Huge Solar Park in Hungary

CMC intends to set up regional center in Hungary

D&T
June 16, 2019

The China National Machinery Import & Export Corporation (CMC) is to build the largest solar park of Central Europe in Kaposvár, SW Hungary, the Hungarian Ministry for Innovation and Technology (ITM) has announced. The total cost of building of the almost 100 MW solar power plant is estimated at HUF 32 billion, which is close to EUR 100 million.

As reported by the most popular Hungarian news website, index.hu, the company has already obtained all the permits, recently concluded a contract for the purchase of the necessary land, and is currently in the process of preparation. In recent years, CMC and its subsidiary have invested USD tens of billions on international level, largely in the energy sector. According to ITM, the company will be able to invest up to a total of EUR one billion from its own resources in Hungary in the future.

The company has the intention to set up a regional center in Hungary, which would direct the project preparation and management tasks of its planned developments in 16 Central and Eastern European countries.

The agreement that laid the foundation for this huge solar park project was signed – at the end of April this year – by the Hungarian Minister of Innovation and Technology, László Palkovics and the CEO of CMC, Ruan Guang, in Beijing. At the end of 2018, Hungary had around 700 MW of solar power capacity installed and the government intends to increase this to 2-3,000 MW within a five-year period.

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