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GOVT EARMARKS HUF 103 BN FOR ELECTRICITY GRID DEVELOPMENT

 

Hungary’s government has earmarked 103 billion forints (EUR 25.8m) for developing its electricity grid, the state secretary for energy and climate policy, Attila Steiner, told a press conference. Thanks to the upgrade, the system will be able to absorb an additional 2,000 MW of energy from renewable sources, he said. Hungary has a total solar energy utilisation capacity of over 3000 megawatts. Its solar energy capacity has increased tenfold over the past ten years, with 26% of electricity coming from renewable sources in 2021, the state secretary said.
Last week the European Commission granted Hungary 23 billion forints to develop its electricity grid, mainly for establishing storage facilities, Steiner noted. The amount, along with contributions from the central budget, will be used to create storage capacity for 500 megawatts of electricity, he said.