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The Hungarian government has earmarked HUF 62 billion ($169 million) for grid-scale energy storage projects in a bid to facilitate further deployment of renewable energy sources.
The Hungarian Ministry of Energy has announced that around 50 grid-scale energy storage projects with a cumulative capacity of 440 MW have received subsidy support through a tender launched in February this year.
The procurement exercise is part of a broader subsidy program to the tune of HUF 200 billion launched in a bid to support households and businesses to produce and store green energy.
Last Thursday, the government said that it has selected the winning bidders and allocated HUF 62 billion for their energy storage projects.
The selected companies and organizations must complete the installation of projects by the end of April 2026.
“With the successful implementation of the program, domestic energy storage capacity can increase by about 20 times within two years,” the ministry said in the announcement.
The subsidies are secured via the National Recovery and Resilience Plan and the state budget. They consist of non-refundable investment support and income compensation for the construction of energy storage facilities and their operation for at least ten years.
The operational support will be provided through two-way contracts for difference. The winners were selected on the basis of the lowest cost principle and the lowest income compensation claim, the ministry said.
With funds obtained through a previous program, transmission system operator MAVIR is already building the countrys largest energy storage system – a 20 MW project in Szolnok, central Hungary, the ministry said. It added that several projects with even bigger capacity will be installed under the tender concluded a few days ago. |
