EU approves €1.1 billion state aid for Hungary to foster transition to net-zero economy
The European Commission has approved a €1.1 billion Hungarian program to support electricity storage facilities to support the transition to a net-zero economy. The program was approved under the Temporary Crisis and Transitional State Aid Framework, adopted on March 9, 2023, to support measures in sectors relevant to accelerating the green transition and reducing fuel dependency in the context of Russia's war against Ukraine. The program aims to improve the flexibility of the Hungarian power system by supporting storage investments to facilitate the smooth integration of high capacities of variable renewable energy sources in the Hungarian power system.
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