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Hungarian plan for RePowerEU funding submitted by deadline

Hungary submitted its plan for RePowerEU, a section of the EU's Recovery and Resilience Facility (RRF) focusing on energy funding, by the August deadline, the energy ministry said on Friday.

The plan features strategic, regulatory and investment plans designed to strengthen energy sovereignty and a balanced transition to green energy, the ministry said.

The planned developments, coming to a total of 2,300 billion forints (EUR 6bn) according to the programme submitted for the Recovery and Resilience Facility (RRF), include plans to upgrade the electricity network’s capacity and reliability to ensure that energy from sustainable resources can be safely channeled into the electric grid, the ministry said.

Industrial parks will have support in introducing green solutions into their energy mix, thereby increasing their energy independence, the ministry said. A greener economy can contribute to achieving Hungary’s energy, climate protection and competitiveness goals by increasing capacity, introducing clean technologies and by re-training experts to work in the green industry, the statement said.

Meanwhile, energy optimisation in households could cut the use of primary energy by an annual 343 GW/hrs, the ministry said.

The European Commission developed RePowerEU in response to the energy crisis resulting from the war in Ukraine. Member states are now upgrading their plans for the use of the RRF to include investments on saving energy and diversifying energy sources, and to boost the use of sustainable resources, the statement said.

Hungary added a RePowerEU chapter worth a total of 1,750 billion forints to its original plan, which was earlier accepted by the European Council and the EC, the ministry said. It has also applied for a 3.9 billion euro loan within the RRF, earmarked for a successful green transition, the statement said. The loan would serve to implement most of Hungary’s RePowerEU plans, it said.

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