MOL Group Enhances Hungary’s Renewable Energy Capacity with New Solar Park
MOL Group has inaugurated a new 37.4 MWp solar park and an associated electricity storage system with 20 MW of nominal power and 40 MWh of storage capacity at its Algyő site in Hungary. With the new facilities, MOL Group further strengthens its renewable portfolio across the Central European region and the energy independence of its operations, while enhancing the flexibility of electricity supply and reducing CO2 emissions by approximately 13,000 tonnes annually.
“Recent experience has highlighted the importance of managing intraday fluctuations in electricity generation. This is what we are achieving by commissioning our latest energy storage facility. The investment simultaneously promotes sustainability, security of supply and economic competitiveness: green electricity generated from our own sources reduces our reliance on external energy supplies, while the battery storage system contributes to the stability of the national power grid.” – said György Bacsa, Group Chief Strategic Officer of MOL Group.
The new solar park, together with the existing power plants at Algyő, is capable of fully covering the electricity demand of MOL’s Algyő region. The 37.4 MWp solar facility strengthens the site’s energy independence and reduces operating costs by replacing purchased electricity. The solar power plant’s annual generation is equivalent to the yearly electricity consumption of approximately 22,500 households in Csongrád-Csanád County, where MOL’s site is located.
The battery energy storage system with 20 MW of nominal power and 40 MWh of storage capacity installed as part of the investment helps balance grid fluctuations caused by weather-dependent renewable sources. The system is capable of storing and feeding back into the grid an amount of electricity equivalent to the annual consumption of approximately 7,300 average households in the county.
The smart energy transition is a key pillar of MOL Group’s long-term SHAPE TOMORROW strategy. Expanding renewable energy sources and developing energy storage capacities are essential to achieving this, as fluctuations in output from weather-dependent generation units, such as solar parks and wind farms, must be managed at a national level. The Algyő project therefore supports both the decarbonization of MOL’s own operations and the increased the flexibility of the Hungarian electricity system.
The solar park was constructed by ALTEO Plc., which may also provide aggregation services following the completion of the project. MOL and its partners hold a 73.8% stake in ALTEO Plc., which operates approximately 115 MW of renewable energy generation capacity through wind, solar, hydro and biogas power plants.
MOL Group is continuously expanding its renewable energy portfolio in Hungary and across the region. The company aims to increase the share of electricity from renewable sources used in its own operations, thereby strengthening security of supply, reducing external exposure, and supporting its decarbonisation goals.
With the new facility, MOL Group currently operates 9 solar parks in Hungary with a combined capacity of 405 MW and plans to further expand its portfolio in the future. In addition, it operates two energy storage facilities with a total storage capacity of 80 MWh. By 2030, MOL plans to install a total of 500 MWh of energy storage capacity in Hungary. MOL Group also operates two solar parks with a combined capacity of 10 MW in Croatia, and a third one will be added next year, increasing capacity to 23 MW.
With the newly inaugurated facilities, MOL Group’s total photovoltaic capacity in the region reaches 415 MWp, contributing to an annual reduction of approximately 160,000 tonnes of CO2 emissions.
#MOLGroup #modernplasticsnetwork #printmagazine #printpublication #modernplasticsglobal #modernplasticseurope #modernplasticsindia
