EBRD Supports Landmark Hybrid Solar and Battery Project in Hungary with €70 Million Investment

EBRD Supports Landmark Hybrid Solar and Battery Project in Hungary with €70 Million Investment

(IN BRIEF) The European Bank for Reconstruction and Development is providing €70 million in financing as part of a €210 million package to support a major hybrid renewable energy project in Hungary developed by Renalfa IPP. The project includes a 450 MW solar photovoltaic portfolio combined with a 250 MW / 1 GWh battery energy storage system, making it one of the first utility-scale hybrid renewable projects in Central and Eastern Europe to secure project financing. Expected to generate around 448 GWh of electricity annually, the development will contribute to Hungary’s renewable energy targets while enhancing grid flexibility and energy security. By operating without subsidies or long-term power purchase agreements, the project demonstrates confidence in market-driven renewable investments and sets a precedent for future clean energy developments in the region.

(PRESS RELEASE) LONDON, 20-Apr-2026 — /EuropaWire/ — European Bank for Reconstruction and Development has committed €70 million in financing to support a major renewable energy project in Hungary, as part of a broader €210 million funding package arranged alongside commercial banking partners. The investment is directed toward special purpose vehicles owned by Renalfa IPP, a regional energy developer operating across Central and Eastern Europe.

The financing will enable the development, construction, and operation of a large-scale hybrid renewable energy project in northeastern Hungary, consisting of a 450 MW solar photovoltaic portfolio combined with a co-located 250 MW / 1 GWh battery energy storage system. This integrated approach positions the project among the first utility-scale hybrid renewable energy developments in the region to secure project financing.

Once operational, the facility is expected to generate approximately 448 GWh of renewable electricity annually, contributing to Hungary’s national objective of achieving 30% of its gross final energy consumption from renewable sources by 2030. The project represents one of the largest renewable energy investments in the country and is set to play a key role in advancing the transition to a more sustainable energy mix.

Unlike many similar developments, the electricity produced by the solar installations will be sold directly on the Hungarian market without reliance on subsidy mechanisms or corporate power purchase agreements. This approach highlights the growing maturity of the renewable energy sector and demonstrates confidence in market-based solutions for clean energy generation.

The integration of battery energy storage with solar generation is expected to enhance grid stability by mitigating intermittency, improving system flexibility, and supporting energy security in a market facing increasing demand volatility. The hybrid configuration will also enable the provision of additional grid services, strengthening the resilience of Hungary’s energy infrastructure.

Ivo Prokopiev, Chief Executive Officer of Renalfa IPP, emphasized the significance of the project in advancing innovative energy solutions and delivering reliable green electricity. He highlighted the role of the hybrid asset in providing baseload renewable energy and supporting grid flexibility services.

Anca Ionescu, Regional Head for Hungary, Slovakia, and the Czech Republic at the EBRD, noted that the investment represents a key milestone for the institution, marking its first energy project in Hungary since 2010. She underscored the importance of the initiative in reinforcing the Bank’s commitment to supporting the country’s energy transition and strengthening its energy security.

Grzegorz Zielinski, Director and Head of Energy Europe at the EBRD, added that the project sets an important precedent for the wider Central and Eastern European region by demonstrating the viability of combining large-scale renewable generation with energy storage technologies.

Renalfa IPP operates as a joint venture between Renalfa Solarpro Group and RGREEN INVEST, bringing together expertise in renewable energy development and infrastructure investment.

The project aligns closely with the EBRD’s strategic priorities in Hungary, focusing on strengthening energy security and accelerating the green transition. Since beginning operations in the country, the EBRD has invested more than €3.7 billion across over 220 projects, supporting a wide range of sectors and initiatives.

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SOURCE: EBRD