MOL to Expand Green Electricity Production with New Solar Park

MOL Petrochemicals is expanding its green electricity production with a 48-megawatt solar park, creating one of the largest consumer-connected parks in the country, MOL Hungary’s Managing Director announced on Thursday in Tiszaújváros, northern

By: hungarytoday.hu

Nov 15 2024
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MOL to Expand Green Electricit

Speaking at a press conference at the company’s existing 6-megawatt solar park, György Bacsa said the new solar park will directly serve the petrochemical plant and will be located on a 66-hectare tailings site. The Managing Director said that the new facility will supply the company with green energy at competitive prices and will help the company’s operations. The solar park will meet growing energy needs while reducing the company’s carbon footprint, he added.

The investment will allow MOL to reduce the site’s carbon dioxide emissions by 17,000 tons per year.

Fact

MOL Group is a Hungary-based multinational oil and gas company, and holds a leading position in the petrochemical sector in Central and Eastern Europe. Its petrochemical units are integrated with its core oil activities. The company operates two sites in Hungary (Százhalombatta and Tiszaújváros) and one in Bratislava, Slovakia (Slovnaft, a subsidiary of MOL Group). Both MOL Petrochemicals and Slovnaft have been producing polymers for the plastics industry for many decades.

The new investment will cover 5 percent of MOL Petrochemie’s electricity needs, generating the equivalent of the annual electricity consumption of around 28,000 average households in the county.

Following the press conference, György Bacsa told MTI that

the solar park is expected to be completed by the second quarter of 2026, with the cost of the technological investment reaching €40 million, that will be financed from own resources.

He added that there are also plans to build energy storage facilities at a later stage.

At the press conference, Péter Császár, CEO of Mol Petrochemicals, said that in addition to creating energy independence, it is important that the amount of energy purchased by the company will also be reduced, thus improving competitiveness.

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