The European Bank for Reconstruction and Development (EBRD) is reinforcing Hungary’s energy security framework through a €70 million loan extended to special purpose vehicles controlled by Renalfa IPP. The financing forms part of a broader €210 million package arranged in cooperation with commercial banks. This capital injection will underpin the rollout of a large-scale solar and battery project in northeastern Hungary, covering development, construction, and operational phases. The project combines a 450 MW solar photovoltaic (PV) portfolio with co-located battery energy storage systems (BESS) totaling 250 MW/1 GWh, positioning it as a major hybrid renewable initiative in the region.
The integrated structure of this solar and battery project places it among the first utility-scale hybrid renewable assets in Central and Eastern Europe to secure project financing. It also ranks as one of Hungary’s most significant renewable energy undertakings to date. Once operational, the facility is expected to generate approximately 448 GWh of clean electricity annually. This output is set to contribute directly to Hungary’s national objective of achieving 30 per cent of gross final energy consumption from renewable sources by 2030. The solar and battery project therefore plays a pivotal role in advancing the country’s long-term energy transition targets.
Electricity produced by the solar installations will be sold entirely within the Hungarian market, without reliance on government support mechanisms or corporate power purchase agreements. This approach underscores the commercial viability of private renewable investments and reinforces confidence in market-based models for clean energy expansion. By integrating solar PV with utility-scale battery storage, the solar and battery project is designed to mitigate intermittency challenges, enhance grid flexibility, and strengthen overall energy system resilience. These capabilities are particularly important as Hungary’s energy market continues to experience increasing volatility.
Anca Ionescu, EBRD Regional Head Hungary, Slovakia and Czech Republic, commented: “This investment marks an important milestone for the EBRD in Hungary, as it is our first energy project in the country since 2010.”
Grzegorz Zielinski, EBRD Director, Head of Energy Europe, added: “By combining large‑scale solar generation with battery storage, this investment will play a key role in strengthening Hungary’s energy system, enhancing security of supply and setting an important precedent for the wider Central and Eastern Europe region.”
