Project Development, Solar

HelioGrid to Set Up Solar Plant in Hungary

Budapest, Hungary [Portfolio.Hu] Hungarian solar panel maker HelioGrid has announced on Friday that it will to establish a 50-megawatt (per year) photovoltaic (PV) module facility in Nograd county. The thin-film solar module plant, to be built in Retsag (some 60 km north of Budapest), is necessary to meet the increasing demand for the product in the region, the company said in a statement. The project, which is expected to be completed by the end of 2008, is to create 810 jobs. … The ratio of electricity coming from renewables was 0.7% in 2007, but the country undertook in its accession contract to the EU to raise this number to 3.6% by 2010. The country already reached 4.5% in 2005, helped by the establishment of wind power stations.