Alteo Invests HUF 5.5 bln in Energy Storage

Green Energy

Alteo is spending HUF 5.5 billion to install battery storage and gas engines to even out differences between energy supply and demand, the listed alternative energy company said on Wednesday, according to a report by state news wire MTI.

Alteo will add 8 MW/15 MWh of battery storage, and a 6 MW gas engine in Győr, as well as a 3 MW gas engine in Sopron, in the west of Hungary.

The investments, which will support the expansion of weather-dependent renewable energy resources, will go online in H1 2024.

Hungarian oil and gas company MOL partnered with two local private equity funds to acquire a controlling stake in Alteo in a buyout offer in the spring.

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