Romania: Cernavoda Unit 2...

Unit 2 of Romania’s sole nuclear power plant, Cernavoda, was brought back online...

Montenegro: Major renewable energy...

Two significant renewable energy projects are progressing in the village of Korita, located...

Bulgaria: Solaris Holding launches...

Solaris Holding, a joint venture between Bulgarian-German solar developer Sunotec and Eurohold Bulgaria,...

Bosnia and Herzegovina: Electricity...

Gross electricity production in the Federation of Bosnia and Herzegovina (FBiH) reached 512...
Supported byClarion Energy
HomeSEE Energy NewsHungary: MOL advances...

Hungary: MOL advances renewable energy expansion with new solar and battery project in Algyo

Hungarian oil and gas company MOL is advancing the development of a major renewable energy project in Algyo, located in southern Hungary. The initiative involves the construction of a solar power plant with a capacity of 37.4 megawatts, paired with a battery storage system capable of storing 40 megawatt-hours of energy.

The project is receiving substantial financial support, including a grant of approximately 6.7 million euros from the European Union’s Recovery and Resilience Facility (RRF). According to Peter Archibald Schubert, head of Hungarian Exploration and Production at MOL, the Algyo project is particularly significant as it combines the region’s long-standing industrial heritage with modern, forward-looking energy solutions. The goal is to strengthen energy security at the Algyo site while contributing to Hungary’s broader objectives of enhancing sustainability, energy independence, and national competitiveness.

Construction of the solar power facility is being carried out by Alteo. MOL’s renewable energy portfolio continues to expand, with the company currently operating seven solar power plants in Hungary and two in Croatia, totaling 111 megawatts of installed solar capacity. With the addition of the Algyo project, MOL remains on course to increase its total renewable capacity to around 200 megawatts by the end of 2026, in line with its long-term green energy strategy.

Supported byOwner's Engineer banner

Recent News

Supported byspot_img
Supported byspot_img

Latest News

Supported byspot_img
Supported bySEE Energy News

Related News

Serbia: US Treasury grants NIS fourth 30-day sanctions reprieve

For the fourth time since April, the US Department of the Treasury has extended Serbian oil company NIS’s waiver from full sanctions implementation, pushing the new deadline to 29 July 2025. This extension follows NIS’s recent application for a special...

Romania: Cernavoda Unit 2 returns to service following safety inspections and smoke incident

Unit 2 of Romania’s sole nuclear power plant, Cernavoda, was brought back online on the morning of 27 June after a controlled shutdown on 25 June for inspections and minor repairs. Operator Nuclearelectrica confirmed that all corrective actions complied...

Montenegro: Major renewable energy projects advance in Korita

Two significant renewable energy projects are progressing in the village of Korita, located in Bijelo Polje municipality, Montenegro: a €200 million solar power plant and a wind farm with an installed capacity of 72.6 MW. The wind farm, developed by...
Supported byVirtu Energy
error: Content is protected !!