HUNGARY ACTIVATES LARGEST BATTERY SYSTEM NEAR BUDAPEST
Hungary has just switched on its largest battery energy storage system (BESS) to date, stepping up its role in Central Europe''s growing grid-scale energy transition..
Samsung SDI, the battery manufacturing arm of Samsung, is expanding its presence in Hungary to meet the growing demand for electric vehicle (EV) batteries. The company is currently expanding its second battery factory in the country, with completion expected by September 2024.
State secretary for energy transition of the Energy Ministry Viktor Horvath noted that Hungary had built more than 8,000MW of solar capacity in the past 5-6 years and one-quarter of the electricity generated in the country came from renewable sources last year.
The battery energy storage project will receive a HUF 2.7bn grant from the European Union's Recovery and Resilience Facility (RRF) and HUF 5.6bn in investment incentive funds from the Ministry of Foreign Affairs and Trade, Peter Archibald Schubert, managing director of Mol Exploration and Production Hungary said.
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