What Happened
Dentons’ Budapest office has advised UniCredit Bank Hungary Zrt. on a €35.79 million financing deal with SMEGSolar Ltd., a member of the STS Group. This financing is aimed at supporting the development, construction, and operation of a large-scale battery energy storage project in Hungary.
Why It Matters
The investment marks a significant milestone in Hungary’s energy transformation, contributing to the country’s shift towards renewable energy sources. The project, which is being implemented at two locations near Balatonberény and Tereske, will provide a combined nominal installed capacity of 21.0 MW and a total energy storage capacity of 84.0 MWh. This initiative is further supported by the “METÁROLÓ” subsidy from the European Union Recovery and Resilience Facility.
What’s Next
Construction is currently underway at both sites, with completion expected by the end of April 2026. The project is notable for being one of Hungary’s first co-located battery energy storage systems connected to the grid at the same point as existing photovoltaic plants, which presents unique challenges due to the involvement of different developer groups and financing banks.