Spanish renewable energy company secures funding for major solar power plant development in Hungary
According to the statement, "The facility was fully underwritten by a newly created European debt fund, further strengthening the Group's position as a strategic partner."
The company also points out that thanks to the recent funding, "we have a project list of 67 individual projects ranging in size from 1 MW to 150 MW. Spain leads the way with 700 MW, of which 500 MW are onshore wind projects. Poland follows with 600 MWp of solar capacity, while Hungary and Italy are next with 250 MWp and 150 MWp respectively."
This means that ID Energy Group has now received fresh funding for its ongoing late-stage development projects to complete them, and as the company says, its latest ongoing project is due to be completed in the second quarter of 2027.
The Spanish company has been active in Hungary for a while, having already connected several small (1-3 MWp) solar power plants to the grid, according to its website.
The combined nominal capacity of the Hungarian projects is 17 MWp so far, and based on the above, another 250 MWp of nominal capacity will be added, so the company's portfolio is growing rapidly in Hungary.
The implementation of significant market developments in Spain, Poland, Hungary and Italy will certainly be helped by the fact that, as the news portal Renewables Now reminds us, ID Energy Group completed a €19 million capital increase last month before raising the funds it is currently raising.
Cover photo: Oliver Strewe, Getty Images
