Austria-based LSG Group and STEAG Solar Energy Solutions (SENS) have formed a JV to explore the photovoltaic markets in Eastern and Southeastern Europe.
The pair have already connected 130 solar parks with a total output of 65MW in Hungary to the grid.
The plants, which are located in the north and east of the country and near the capital Budapest, benefited from funding from the Hungarian government.
As a result, SENS has recently been able to significantly drive the growth of renewable energies in Eastern Europe.
SENS head of projects Fabian Herr said: “Despite the massive restrictions due to the pandemic situation, all work was completed well before the set deadline and all systems were connected to the grid.
“I am proud of the performance of the entire team and of the fact that the logistics and coordination of all those involved on the various construction sites ran so efficiently.”
With the successful completion of the project in Hungary, Romania and Greece in particular are the focus of further planning.
The region offers attractive conditions for photovoltaics with Hungary experiencing 2,500 hours of sunshine, compared to 1,900 in Germany.
In the case of Hungary, the government specifically promotes investments in photovoltaics by issuing so-called KÀT licences.
They guarantee companies that invest in the photovoltaic market a fixed feed-in tariff for the green electricity generated for up to 25 years, provided that the systems do not exceed an output of 0.5MW.
With this success under difficult conditions, the partners SENS and LSG GROUP see themselves as ideally equipped for the planned further activities on the Eastern and Southeastern European photovoltaic markets.