MOL Group has inaugurated a new 37.4 MWp solar park, and an associated electricity storage system rated at 20 MWp nominal and 40 MWh of storage capacity at its Algyő site in Hungary. With this facility MOL Group further strengthens its renewable portfolio across the Central European region while enhancing the flexibility of electricity supply and reducing CO2 emissions by approximately 13 000 tonnes annually.
The new solar park, together with the existing power plants at AlgyÅ‘, is capable of fully covering the electricity demand of MOL’s AlgyÅ‘ region. The 37.4 MWp solar facility strengthens the site’s energy independence and reduces operating costs by replacing purchased electricity.
The smart energy transition is a key pillar of MOL Group’s long-term ‘Shape Tomorrow’ strategy, supporting a policy that says fluctuations in output from weather-dependent generation units must be managed at a national level. The Algyő project therefore supports both the decarbonisation 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.
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. It also operates two energy storage facilities with a total storage capacity of 80 MWh. MOL intends to have installed a total of 500 MWh of energy storage capacity in Hungary by 2030.
