Futureal Energy Partners (FEP), a business unit of Hungary's Futureal Group has acquired one of Aretis Group’s battery energy storage system (BESS) portfolios in Latvia, which has a capacity of 45 megawatts (MW) and a storage capacity of 120 megawatt-hours (MWh), the company announced to MTI on Wednesday. The transaction includes two greenfield projects currently […]
MOL Plc. has notified the market on the website of the Budapest Stock Exchange that MOL Group has signed a Shareholders’ Agreement with the Serbian government regarding the future governance of Naftna Industrija Srbije (NIS). If MOL Group successfully becomes the majority owner, it will en sure the development of NIS, the supply of the […]
Hungary's MOL Group has notified the market on the website of the Budapest Stock Exchange that it has signed a production sharing agreement with its Joint Venture (JV) partners, Repsol and Türkiye Petrolleri A. O. (TPAO) for an offshore exploration area in the Mediterranean Sea, after being granted an exploration licence. The advancement of this […]
MVM Démász and MVM Émász, regional electricity distributors of state-owned energy group MVM, have completed HUF 55 billion of grid upgrades, the companies said on Monday. Half of the investment cost was covered by state funding and the European Union's Recovery and Resilience Facility (RRF). MVM Démász, the distributor for the south of the country, […]
Greenergy-Solar Duna Ltd. has completed its electricity storage construction project, which involved a HUF 1.8 billion investment to install four storage units, each with a capacity of 1,245 megawatts, at the company’s solar park near Paks, Central Hungary, MTI reports. At a project-closing press conference held on-site, Levente Tasnádi-Tulogdi, the company’s managing director, stated that […]
Greenvolt Group inaugurated a 99MW/288MWh battery storage investment on the outskirts of Buj (NE Hungary) on Wednesday. Greenvolt's project companies were awarded a combined HUF 11.3 billion in grant money for the investment. Greenvolt Group CEO Joao Manso Neto said the investment had raised the business's battery storage capacity in Hungary to 135MW, complemented with […]
A new electricity storage system with a capacity of 3 megawatt-hours (MWh) has been built in Baja at a cost of approximately HUF 550 million, according to a statement provided to MTI by the investor, Merital Property Management Ltd. According to the announcement, the company received a non-repayable grant of HUF 202.5 million for the […]
Battery manufacturer EVE Power Hungary Ltd. has officially joined the Hungarian Battery Association (HUBA). With this move, the company has reaffirmed its earlier commitment to dedicate the year 2026 to strategic partnerships, with a focus on research and development, regulatory dialogue and enhancing public education. EVE Power Hungary’s recruitment drive in Debrecen (E Hungary), launched […]
The E.ON Hungária Group has completed its comprehensive electricity grid development program, which was launched in 2022. The goal of these investments was to ensure that the grid is capable of integrating as much electricity as possible from weather-dependent renewable energy sources, particularly energy generated by residential solar systems. Energy consumption has undergone significant changes […]
A 47-megawatt battery energy storage facility is being built at a cost of 12.5 billion forints on the grounds of the Oroszlány Power Plant through a joint effort by four companies, the project manager Gábor Jeszenszky told MTI. The facility is capable of meeting the needs of MAVIR Plc., which balances the Hungarian electricity system, […]
The first shipments of Russian crude oil have arrived in Hungary and Slovakia via the Druzhba pipeline, Mol Plc. announced on the Budapest Stock Exchange’s website on Thursday. "MOL Group received crude oil at the Fényeslitke and Budkovce pumping stations earlier today. Crude oil deliveries via the Druzhba pipeline system have thus resumed to Hungary […]
Crude deliveries through the Druzhba ('Friendship') pipeline were received in Ukraine after repair work on the pipeline, Hungary's main source of delivery for its Russian crude oil, had been completed, Hungarian oil and gas company MOL said in an announcement posted on the website of the Budapest Stock Exchange on Wednesday. JSC Ukrtransnafta, which operates […]
The European Bank for Reconstruction and Development (EBRD) is providing EUR 70 million of financing as part of a EUR 210 million package with commercial banks to special purpose vehicles owned by Renalfa IPP for the development of a 450 MW solar park with a 250 MW /1 GWh battery energy storage system in Szihalom, […]
With the ceremonial laying of the cornerstone, one of the most significant developments in the Hungarian energy system has entered a new phase, and construction has begun on the combined-cycle gas turbine power plant in Tiszaújváros. The investment is a key element of state-owned MVM Group’s long-term strategy, which aims not only to meet growing […]
MVM Zöld Generáció [Green Generation], a unit of state-owned energy company MVM Group, will build a hybrid geothermal power plant, the first in Hungary, near Zsana (S Hungary), Energy Minister Csaba Lantos announced on site on Tuesday. The company will drill to a depth of 2,400-2,500 meters to tap a 140-150-degree Celsius thermal water source, […]
