The European Bank for Reconstruction and Development (EBRD) is providing a €70m ($82.4m) loan to support a 450MW solar photovoltaic (PV) park and a 250MW/1GW-hour (GWh) battery energy storage system (BESS) in Hungary.
The funding benefits special purpose vehicles (SPVs) owned by Renalfa IPP, an independent power producer in central and eastern Europe.
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Renalfa IPP is a joint venture between Renalfa Solarpro Group and French infrastructure fund manager RGREEN INVEST.
The funding, part of a €210m financing package, alongside commercial banks, will support the development, construction and operation of the projects in north-eastern Hungary.
Renalfa IPP CEO Ivo Prokopiev said: “We are thankful to EBRD for its continuous support for our innovative business models and cutting-edge technologies.
“When operational later this year, this large hybrid asset will allow us to offer green baseload products to [the] Hungarian electricity market and a number of flexibility services to the grid.”
Once operational, the project is expected to generate around 448GWh of renewable electricity, supporting Hungary’s goal of meeting 30% of its energy consumption from renewables by 2030.
The electricity produced by the solar parks will be sold in the Hungarian market without relying on a support scheme or corporate power purchase agreement.
This approach demonstrates the long-term viability of private renewable investments in Hungary, boosting confidence in market-driven solutions for clean energy.
EBRD Hungary, Slovakia and Czech Republic regional head Anca Ionescu said: “This investment marks an important milestone for the EBRD in Hungary, as it is our first energy project in the country since 2010.
“Returning to the Hungarian energy sector with such a large‑scale and innovative project underlines the Bank’s renewed commitment to supporting the green transition and strengthening energy security in the country.”
By combining utility-scale battery storage with solar PV generation, the project aims to tackle intermittency issues, improve grid flexibility and strengthen energy security amid market volatility.
The investment aligns with the EBRD’s strategy in Hungary, which is focused on enhancing energy security and facilitating a green transition.
Since commencing operations in Hungary, the EBRD has invested more than €3.7bn in more than 220 projects in the country.
In October 2025, the EBRD announced co-financing for a solar energy and battery storage project in Uzbekistan with a €121m financing package.
