Gov't Announces HUF 58 bln in Energy Storage Investment Subsidies
The government will launch a HUF 58 billion subsidy scheme in June for electricity storage investments, the Ministry of Energy Affairs said on Wednesday, according to a report by state news wire MTI.
The subsidies, available to the transmission system operator and electricity distributors, aim to promote renewable energy sources dependent on the weather, the ministry said.
Applicants must pledge to complete their electricity storage investments by the summer of 2025.
The scheme aims to support the addition of 146 MWh of storage capacity to the grid by the end of May 2025, double the capacity under construction at present.
Decisions on applications for the support are expected to be taken in the summer.
Together with a separate program supporting electricity storage investments by other companies, funding available for such projects could add up to HUF 120 bln, the ministry noted.
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