European Bank for Reconstruction and Development commits €70 million financing to Renalfa IPP for Hungarian hybrid renewables project
Type: Financing · Technology: Hybrid · Country: Hungary · Capacity: 450 MW · Value: $70M · Announced: 2026-04-21
The European Bank for Reconstruction and Development (EBRD) committed €70 million (USD 70 million) to Renalfa IPP special purpose vehicles in Hungary as part of a €210 million financing package that also includes commercial banks. The financing will fund the development, construction, and operation of a 450 MW solar PV portfolio and a co-located 250 MW / 1 GWh battery energy storage system in northeastern Hungary. Once operational, the project is expected to generate approximately 448 GWh of renewable electricity annually, supporting Hungary’s target to derive 30% of its gross final energy consumption from renewable sources by 2030. All electricity generated by the solar parks will be sold into the Hungarian market without a support scheme or corporate power purchase agreement, marking a material step toward market-based renewable energy integration. Renalfa IPP is a joint venture between Renalfa Solarpro Group and RGREEN INVEST, with the latter providing strategic and financial backing for the hybrid asset.
Counterparties
- European Bank for Reconstruction and Development (Lender)
- Renalfa Solarpro Group (Parent Company)
- Renalfa IPP special purpose vehicles (Borrower)
- RGREEN INVEST (Parent Company)