MOL Petrochemicals Develops Battery Storage Facility
Key highlights
- MOL is investing HUF 6.591 billion in a 40 MWh battery storage at Tiszaújváros.
- The project receives HUF 2.7 billion from the EU's Recovery and Resilience Facility.
- Completion is expected by Q1 2026.
- Alteo will manage commercial operations, with MOL holding a 73.8% stake.
Project Overview
MOL is constructing a 40 MWh battery energy storage system at its Petrochemicals site in Tiszaújváros. This facility aims to stabilize fluctuations in Hungary's national electricity grid.
Investment and Funding
The project involves an investment of HUF 6.591 billion, with HUF 2.7 billion provided by the European Union under the Recovery and Resilience Facility, coordinated by the Ministry of Public Administration and Regional Development.
Timeline and Completion
The battery storage facility is expected to be completed by the first quarter of 2026.
Operational Management
Alteo will handle the commercial operations of the facility. MOL and its partners hold a 73.8% stake in Alteo Energiaszolgáltató Nyrt., which has significant renewable energy-based power plant capacity in Hungary.
Source: MOL Petrochemicals