Three subsidiaries of the listed company Alteo Nyrt. – Alteo-Depónia Kft., Alteo-Therm Kft. and Pannon Szélerőmű Kft. – are receiving subsidies from the EU Recovery Fund for the implementation of a major energy storage project.
The total volume of the planned investment amounts to HUF 28 billion (EUR 70 million), of which HUF 9.4 billion (EUR 23.7 million) will be covered by grants. This represents the largest investment in green technologies in Alteo’s history.
The aim of the state subsidy program is to create a total of 440 MW of new capacity in energy storage systems by 2026. Grants totaling HUF 62 billion (EUR 156.9 million) are available for this purpose.
Construction work is scheduled to begin in the second half of 2024 and storage operations are to start by the end of April 2026 at the latest.