MOL Group launches solar and battery storage project in Hungary

MOL Group has commissioned a new solar park and battery energy storage system at its oil and gas site in Algyő, Hungary. The project includes a solar facility with an installed capacity of 37.4 MWp and a battery storage system with a nominal power of 20 MW and a capacity of 40 MWh.

The investment, valued at approximately €59.4 million, aims to increase the energy self-sufficiency of the Algyő operations and reduce reliance on external electricity supplies. The solar park's annual production is equivalent to the yearly consumption of roughly 22,500 households in the Csongrád-Csanád region. The battery system is designed to manage fluctuations in electricity production caused by weather-dependent renewables and can store energy equivalent to the annual consumption of about 7,300 households.

By integrating renewables directly into an active hydrocarbon infrastructure, MOL Group intends to lower operational costs and mitigate exposure to volatile electricity market prices. This project is part of the company's 'SHAPE TOMORROW' strategy, which focuses on intelligent energy transformation. MOL currently operates nine solar parks in Hungary with a total capacity of approximately 405 MW and aims to reach 500 MWh of storage capacity by 2030.