Region: LSG and STEAG formed a joint venture to research photovoltaic markets in SEE

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The Austrian company LSG Group and STEAG Solar Energy Solutions (SENS) have established a joint venture to research photovoltaic markets in Eastern and Southeastern Europe.

The two companies have already connected to the network 130 solar parks with a total capacity of 65 MW in Hungary.

The plants, located in the north and east of the country and near the capital Budapest, used subsidies from the Hungarian government.

As a result, SENS has recently been able to drive significant growth in renewable energy in Eastern Europe.

“Despite the huge constraints due to the pandemic, all the work was completed well before the deadline and all systems were connected to the network”, said SENS project director Fabian Herr.

After the successful completion of the project in Hungary, the focus of further planning is Romania and Greece.

The region offers attractive conditions for photovoltaic systems, and Hungary has 2,500 hours of sunshine, compared to 1,900 in Germany.

The Hungarian government promotes investments in photovoltaic systems by issuing so-called traffic police permits.

They guarantee companies that invest in the photovoltaic market a fixed tariff for the produced green electricity for a period of up to 25 years, provided that the systems do not exceed the output power of 0.5 MW.