The Hungarian government has announced that a 233 MW solar power plant has begun commercial operations in the municipality of Mezőcsát, in Borsod-Abaúj-Zemplén county, northern Hungary.
“Hungary imports 76% of its energy, and reducing the reliance on natural gas and increasing the share of electricity from alternative sources are key goals,” tweeted Energy Minister Csaba Lantos. “The inauguration of the Mezőcsát power plant, the country's largest solar farm, is a step toward achieving these objectives.”
Hungary-based PolSolar, the project developer, raised €174 million ($185.9 million) in in April 2022 through the issuance of a 15-year bond under the Bond Funding for Growth Scheme (BGS), which is managed by the National Bank of Hungary. These funds have facilitated the completion of the Mezőcsát solar plant. The project will sell power to the national grid under a contract for difference (CfD) scheme.
The latest statistics from the International Renewable Energy Agency (IRENA) show that Hungary had installed 2.98 GW of solar by the end of 2020. New capacity additions only reached 20 MW in 2022.
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The latest statistics from the International Renewable Energy Agency (IRENA) show that Hungary had installed 2.98 GW of solar by the end of 2020. New capacity additions only reached 20 MW in 2022.
Hungary has installed approx. 5GW of solar already as of June