What Happened
Dentons’ Budapest office has advised UniCredit Bank Hungary Zrt. on a €35.79 million financing to SMEGSolar Ltd., a member of the STS Group. This funding supports the development, construction, and operation of a large-scale battery energy storage project in Hungary. 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. Construction is currently underway, with completion expected by the end of April 2026.
Why It Matters
This investment marks a significant milestone in Hungary’s energy transformation, as it represents one of the most complex battery energy storage system (BESS) financings to date in the country. The project is notable for being one of the first co-located BESS projects connected to the grid at the same point as existing photovoltaic plants. The complexity of the financing, involving different developer groups and banks, highlights the evolving landscape of energy solutions in Hungary.
What’s Next
As the project progresses, it will benefit from the “METÁROLÓ” subsidy provided by the European Union Recovery and Resilience Facility. This initiative is expected to enhance Hungary’s energy infrastructure and contribute to the broader goals of sustainability and energy independence. Meanwhile, in the realm of sports, Liverpool is preparing for the UEFA Champions League, with the final set to take place in Budapest for the 2025/2026 season, adding further significance to the city as a hub for major events.
