Energy Transition Europe II Invests €6.5M in 58 MWp Solar Portfolio in Hungary
ETIC Partners' Energy Transition Europe II has invested €6.5 million in junior debt to support a 58 MWp solar portfolio in Hungary, expected to be operational by 2025. The two plants will produce approximately 80 GWh of energy annually and significantly reduce CO2 emissions, with one plant secured by a long-term PPA with Holcim. This investment aligns with Hungary's goal of achieving 30% renewable energy by 2030, primarily through photovoltaic power.
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ETIC Partners' Energy Transition Europe II has invested €6.5 million in junior debt to finance a 58 MWp solar portfolio in Hungary, operational by 2025. The two plants will generate about 80 GWh annually and reduce CO2 emissions by over 11,000 tons.
One plant has a long-term PPA with Holcim while the other benefits from Hungary's METAR scheme. ID Energy Group, the equity partner, has a 6.5 GW project pipeline and is transitioning to an independent power producer model. Hungary aims for 30% renewable energy by 2030, driven primarily by photovoltaic power, which is projected to grow from 6.8 GW to nearly 12 GW.
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