MET Danube Energy Storage Ltd., a member of the Swiss-based MET Group, is building an energy storage system with a total nominal capacity of 40 megawatts (MW) and a storage capacity of 80 megawatt hours (MWh) in Százhalombatta, south of Budapest, for which it has won more than HUF 4 billion in non-refundable EU funding, the company told MTI on Tuesday.
According to the information, MET is building the new energy storage units on the site of the Dunamenti Power Plant, which was built in the 1960s and has since been demolished and restored.
The 60 MWh of the 80 MWh capacity will be financed by the EU, the storage units, which will be built with a non-refundable subsidy of HUF 2.69 billion and HUF 1.35 billion, will fit into the European Union's 2030 climate policy and will also be in line with the Hungarian energy strategy.
The investment will be funded by the Instrument for Recovery and Resilience, a dedicated instrument set up by EU member states, they said.
Huawei Technologies is the manufacturer of the energy storage units to be installed, while Forest-Vill Ltd. is the general contractor and contractor of the projects.
To achieve the energy transition, energy companies around the world are working to replace fossil fuels, which involves many challenges and planning, the company stressed.
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