Hungary’s government to earmark EUR 25.8m 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 said on Tuesday.

Due to the upgrade, the system will be able to absorb an additional 2,000 MW of energy from renewable sources, Attila Steiner told a press conference in Kerepes, near Budapest.

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 percent of electricity coming from renewable sources in 2021, the state secretary said.

Last week the European Commission granted Hungary 23 billion forints for developing its electricity grid, mainly for establishing storage facilities,

Steiner said. The amount, along with contributions from the central budget, will be used to create storage capacity for 500 megawatts of electricity, he said.