Innovation and Technology Minister László Palkovics held talks with the owners of Germany's Max Aicher group on Saturday on the state joining a project to build a 450MW pumped storage plant in the south of Bavaria.
Max Aicher has offered the state of Hungary "a significant stake" in the plant, the ministry said.
Hungary's relatively flat geography is not well suited for pumped storage plants, it noted.
The Hungarian government has "fostered good business ties" with Max Aicher group for many years and earlier acquired a 20% stake in the group's Hungarian steelworks, Ózdi Acélművek, the ministry said.
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