MOL more than doubles its solar energy production with new acquisition

Hungarian oil and gas company MOL on Thursday said it agreed with German-owned Optimum Vogt to acquire 100pc of Naperőmű Farm, which oversees construction of a 66 MWp photovoltaic plant in Ballószög (C Hungary).

Trial runs of the plant are expected to start in January 2025. The transaction more than doubles MOL’s renewable energy generation capacity, MOL said.

The electricity generated by the plant will be sold through listed alternative energy company Alteo. The facility will generate electricity equivalent to the consumption of 20,000 average Hungarian detached family homes.

The MOL group has 6 solar parks in Hungary, with combined capacity of 31.5 MW, and it also has photovoltaic capacity of 13.6 MW in Croatia. In line with its strategy, MOL aims to increase its renewable energy generation capacity to 200 MW by 2026 at group level through further solar park investments in both countries. As part of this, MOL Petrolkémia recently announced plans to build a 48 MW solar park in Tiszaújváros, scheduled to be completed in the second quarter of 2026.

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