The oil and gas company MOL is building a combined solar park in southern Hungary with a capacity of 37.4 MW and energy storage of 40 MWh. The goal is to offset the significant price fluctuations that have become increasingly common. These fluctuations are largely due to the widespread adoption of solar technology, which now exceeds 8,000 MW in nationwide capacity.
MOL Group received HUF 2.7 billion (EUR 6.7 million) from the EU Recovery Fund and HUF 5.6 billion (EUR 14 million) from the Ministry of Foreign Affairs and Trade for the project. This funding will help ensure that the infrastructure at the Algyő gas field is largely powered by renewable energy. The solar park could provide electricity to 22,500 households in Csongrád-Csanád County. The flexible output from the energy storage system is sufficient to supply 7,300 households.
Alteo Nyrt. is carrying out the investment, which is 74% owned by the MOL Group. The alternative energy provider has 110 MW of renewable energy capacity. MOL Group itself operates nine solar parks in Hungary and Croatia.