Hungary's MOL Group said on Friday that it signed an agreement with Shell to buy BG Cyprus Ltd., Shell's 100% subsidiary. BG Cyprus Ltd. holds a 35% interest in the Cyprus Offshore Block 12 containing the Aphrodite gas field in the eastern Mediterranean. The total consideration payable by MOL for the transaction is up to […]
Croatia’s Plinacro and Hungary’s Földgázszállító [Natural Gas Distributor] Plc. (FGSZ) have agreed to increase the capacity of the Croatian-Hungarian natural gas interconnector, the Croatian natural gas transmission system operator has announced. According to a joint statement by the two companies, the capacity of the Drávaszerdahely - Donji Miholjac border crossing point from Croatia to Hungary […]
The number 3 block of the Paks nuclear power plant has been shut down as water levels on the Danube – used to cool the NPP – have reached record lows, Economy and Energy Minister István Kapitány said in a social post on Wednesday. The minister noted that the shutdown was not an unexpected event, […]
The government has made preparations if any steps are needed to ensure Hungary's secure energy supply, Economy and Energy Minister István Kapitány said in a social media post on Tuesday. The minister acknowledged a cut in the output of the Paks nuclear power plant due to record low water levels on the Danube, which the […]
The largest battery energy storage system in the Central European region, with a total installed capacity of 99.8 megawatts (MW) and a storage capacity of 288.5 megawatt-hours (MWh), has been handed over in Buj, Szabolcs-Szatmár-Bereg County, NE Hungary, Forest-Vill Plc. announced on Monday. According to the announcement, Forest-Vill carried out the design and construction work […]
Hungary’s strategic fuel reserve has doubled since the low point in March, so Hungary's fuel supply is secure, but reserves need to be stockpiled, the Ministry of Economy and Energy has announced. The strategic fuel reserve ensures that the country can continue to function and that families and the economy are supplied in the event […]
Hungary will call a tender for grid capacity allocation for 1,000 MW of wind energy by August 31, Economy and Energy Minister István Kapitány said in a social media video message on Friday. As he put it, the Hungarian wind energy program has reached a new milestone. The minister stated that volume – indicated after […]
Over HUF 500 billion worth of energy tenders were called on Thursday, Minister of Economy and Energy István Kapitány has said in a social media post. The electricity grid and smartmeter upgrades will pave the way for connecting more renewables capacity to the grid in order to boost safety of supply and reduce Hungary's vulnerability, […]
Last year, some 6.6 million tons of biomass was used for energy production in Hungary, 10.7% more than the year before, the Institute of Agricultural Economics (AKI) said in a report on Tuesday. In 2025, Hungarian power plants, heating plants and industrial boiler operators using biomass feedstock primarily relied on wood chips — hat is, […]
State-owned energy company MVM inaugurated a HUF 10.4 billion, 57MWh battery energy storage unit at a gas-turbine power plant in Ajka (W Hungary) on Monday, MTI reports. The investment was supported by HUF 3.8 billion in grant money from the European Union. MVM CEO Karoly Matrai said heatwaves like the present one point to the […]
So far this summer, the load on the Hungarian power grid peaked on Friday, June 26, breaking last summer’s electricity consumption record, but the all-time summer record set in 2024 has not yet been broken, Mavir Hungarian Electricity Transmission System Operator Ltd. said on Monday in response to an inquiry from MTI. According to Mavir’s […]
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 […]
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 […]
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 […]
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 […]
