The government is allocating nearly HUF 500 billion to develop the electricity grid and install smart meters under the European Union’s Recovery and Resilience Facility (RRF), the Minister of Economy and Energy István Kapitány announced on social media this Saturday.
The minister emphasized that the Hungarian Development Bank (MFB) has signed all five grant agreements with MAVIR, E.ON, and MVM, and the government has already transferred the full grant amount to the MFB.
István Kapitány pointed out that the development and modernization of the grid are of fundamental importance for a secure energy supply and for the integration of new renewable energy capacities into the system.
“We will continue to work to secure all EU funds allocated to Hungary and channel them into developments that strengthen the country’s energy independence and competitiveness,” the minister wrote.
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