Renewable energy plays a key role in MOL Group's strategy, and the development of battery energy storage capacity is essential for its efficient use. The Tiszaújváros unit will support the national transmission system by balancing grid fluctuations. The associated commercial operations will be handled by Alteo. MOL and its partners hold a 73.8% stake in ALTEO Energiaszolgáltató Nyrt., which has approximately 110 MW of renewable energy-based power plant capacity (wind, solar, hydro, biogas), and currently provides around 40% of the total energy storage capacity operating in Hungary.
Increasing the share of renewable energy sources is essential to reduce the country's energy imports and progress with green transition. Weather-dependent production units (e.g. solar parks and wind farms) increase fluctuations in the grid, and balancing these fluctuations requires a gradual increase in energy storage capacity across the country.
"One of the benefits of battery storage is that it helps to coordinate energy production and consumption more efficiently. In this way, batteries contribute to sustainable development and accelerate the energy transition.“The integration of battery storage units is essential in the development of future energy systems to ensure that energy sources are used efficiently and reliably,” said Zoltán Áldott, Chairman of the Supervisory Board of MOL.
The investment will be implemented with a budget of HUF 6.591 billion, of which HUF 2.7 billion will be provided as a grant from the European Union with the coordination of the Ministry of Public Administration and Regional Development under the Recovery and Resilience Facility.
The battery energy storage is expected to be completed in Q1 2026.
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RRF-6.5.1-23-2024-00008
Name of the final beneficiary: MOL Petrolkémia Zrt
Subject of the development: Development of battery energy storage at the MOL Petrochemicals site
The amount of contracted grant: HUF 2 699 464 056
Planned project completion date: 31. 03. 2026
