Electricity Distributors Unveil Projects to Boost Renewables Capacity

Power

Image by Pixabay

Regional electricity distributors MVM Démász and MVM Émász on Friday showcased projects involving over HUF 70 billion in network upgrades that will boost renewables capacity by around 700MW, according to a report by state news wire MTI.

 

State secretary for energy Attila Steiner said the projects are getting around HUF 35 billion in support from some HUF 103 bln earmarked for upgrades by electricity distributors and transmission system operator Mavir to boost network capacity for electricity from renewables. That funding is set to come from Hungary's Recovery and Resilience Facility (RRF) plan, but the government has decided to pre-finance projects while talks with Brussels continue, he added.

The projects will boost MVM Démász's capacity for electricity generated from solar by at least 456 MW and MVM Émász's by at least 238 MW by the spring of 2026. The two distributors together have about one-third market share.

The government recently decided to suspend new household applications to join the country's feed-in tariff scheme after home solar panel volume outpaced network capacity. The suspension will be lifted when the necessary network upgrades are made.

ADVERTISEMENT

Avg Compulsory Vehicle Insurance Premium up 5% Figures

Avg Compulsory Vehicle Insurance Premium up 5%

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

4iG, Rheinmetall Establish IT JV Deals

4iG, Rheinmetall Establish IT JV

24th FIABCI Hungarian Prix d’Excellence Held Awards

24th FIABCI Hungarian Prix d’Excellence Held

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.