Hungarian oil and gas company MOL inaugurated a HUF 21.6 billion solar park and battery storage facility in Algyő (SE Hungary) on Thursday.
The 37.5 MW solar park was paired with 40 MWh of battery storage capacity.
MOL now has nine solar parks with a combined capacity of over 400 MW.
MOL plans to install energy storage capacity of 500 MWh in Hungary by 2030, Mol Hungary managing director György Bacsa said.
Peter Archibald Schubert, the head of Mol Hungary's upstream business, pointed out that hydrocarbon production at the field in Algyő had been ongoing for more than 60 years, with over 100 wells in operation at present. He added that the field and the gas plant that operates there accounted for 5-10% of Mol Hungary's production, but more than half of its electricity consumption. The solar park, along with earlier investments, will now cover the base's electricity needs, he added.
A breakdown of costs shows the solar park cost HUF 17.6 billion, of which a government grant covered HUF 5.6 billion, while the battery storage cost HUF 4.0 billion, with HUF 1.6 billion coming from European Union funding.
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