MVM ESCO completes 1st solar park

Green Energy

MVM ESCO Urban has completed its first solar park investment, the energy service company of Hungary's state-owned energy company MVM said on Monday, according to a report by state news wire MTI.

MVM ESCO Urban installed two solar plants at manufacturing bases of Kingspan in Újhartyán (46 km southeast of Budapest) and Felsőlajos (65 km southeast).

The company covered the cost of the investment which Kingspan will repay from its energy cost savings over a period of 15 years. Kingspan will have an option to purchase the solar parks at the end of the period.

MVM ESCO has a number of orders for solar parks that are advancing according to plan, the company said.

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