The European Commission has approved a HUF436bn (€1.1bn) Hungarian scheme to support electricity storage facilities to advance the transition to a net-zero economy. The Hungarian scheme supports the installation of at least 800 MW/1600 MWh of new electricity storage facilities and aims at supporting storage investments to facilitate smooth integration of renewable energy sources in the Hungarian electricity system.
The measure will be open to energy sector companies, except for financial institutions. It will be open to cross-border participation within the limits of available transmission capacity and considering the share of renewables in the energy mix of neighbouring Member States. All storage technologies will be eligible. The storage projects will be selected through a competitive bidding process, and the award of contracts to the selected projects is expected before the end of 2024.
The scheme was approved by the EU under the State aid Temporary Crisis and Transition Framework, adopted by the Commission in March 2023 to support measures in sectors which are key to accelerate the green transition and reduce fuel dependencies.
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